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Article: FORECLOSURE BEGUN ON LOANS TO GRAND TRAVERSE RESORT
- Article from:
- PR Newswire
- Article date:
- April 8, 1992
CopyrightCOPYRIGHT 1992 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FORECLOSURE BEGUN ON LOANS TO GRAND TRAVERSE RESORT
TRAVERSE CITY, Mich., April 8 /PRNewswire/ -- Grand Traverse Resort
announced that its primary lender, The General Retirement System of the City of Detroit, has started foreclosure of its loans to the resort. Negotiations are continuing at this time, and the resort is hopeful of reaching an agreement satisfactory to the retirement system in the near future.
Despite hard times, aggravated by the Gulf War and the economic recession, the resort's Chief Operating Officer Dick Erb indicated that "the resort and its employees have not cut back on their service to customers, and it continues to ...