Aspen Club declares Chapter 11

[Tricia]

See full story from Aspen Times


Snip from article:
Plagued by litigation, liens and millions of dollars in lingering debts, The Aspen Club & Spa declared Chapter 11 bankruptcy on Thursday in Denver.
<snip>
“The architects, engineers and surveyors started work on the project before any of the bank financing documents were put in place,” he said.

Sawyer said the bankruptcy filing had been expected for the past few months.

“A lot of local family businesses are owed a of money, and it’s hurting them,” he said. “This bankruptcy is more salt on the wounds for them not getting paid back.”

 

[James]

Join the club- Yellowstone, Hermitage.

 

[Jack skis]

When I first glanced this I read it as "millions of dollars in lingerie debts." Caught my eye so I read the article. Lingering debt makes more sense but is less interesting.

 

[Tricia]

When I first glanced this I read it as "millions of dollars in lingerie debts." Caught my eye so I read the article. Lingering debt makes more sense but is less interesting.

You too!!!?
I guess the eye sees what it wants to see.

 

[mdf]

So what would it take to run up millions of lingerie debts? The mind boggles..

 

[dovski]

So what would it take to run up millions of lingerie debts? The mind boggles..

Funny you should ask, when I first moved to the US in 2000 it was the peak of the dot.com boom and I met someone who had started a company called bratopia.com the worlds first online boudoir. Being a simple Canadian I could not quite buy into the concept but apparently several investors did to the tune of $10M all of which was spent on lingerie. Unfortunately they could not pay web developers in lingerie soooo …… I think we all know this story ends but it is a great example of what it takes to run up millions of lingerie debts

 

[Wilhelmson]

Funny you should ask, when I first moved to the US in 2000 it was the peak of the dot.com boom and I met someone who had started a company called bratopia.com the worlds first online boudoir. Being a simple Canadian I could not quite buy into the concept but apparently several investors did to the tune of $10M all of which was spent on lingerie. Unfortunately they could not pay web developers in lingerie soooo …… I think we all know this story ends but it is a great example of what it takes to run up millions of lingerie debts

So they paid you in brassieres and underwear?

 

[scott43]

So they paid you in brassieres and underwear?

I know someone who got partially paid in cowboy boots once... Nice boots too..

 

[dovski]

So they paid you in brassieres and underwear?

No they didn't have my size ;-)

Joking aside it was a sad example of how the minute you added .COM to a business proposal people threw money at it without pausing to say does this make sense.