Employees who worked for the Wyndham Garden Hotel in Amarillo, Texas, were hit with financial hardship after their employer closed up shop last September without notice. The employees had an especially difficult time when they didn't receive paychecks for the work they had completed for the hotel.
According to ex-managers from the hotel, they and the rest of the employees had to wait until Dec. 26 before getting paid. Ultimately, the hotel owed the employees money for two pay periods. One of the managers said, "I had a lot of employees that were calling me. Of course, they were concerned when they were going to get paid and we didn't know when anyone was going to get paid."
Many of the employees had lost their cars and got behind on their rent and other bills as a result of the late payments. Eventually, the employees received their money in December, but by then, the damage had clearly been done.
The owners of the hotel filed for bankruptcy in December as well. The property owed over $13 million. However, the bankruptcy was later dismissed when one of the lenders was provided a relief to foreclose on the property. The lender now wants to sell it to any parties who are interested.
Business bankruptcies involving millions of dollars of debt are complicated and sometimes challenging to navigate from a legal perspective. However, it can happen that after a bankruptcy begins, it's soon dismissed. In this case, the bankruptcy was dismissed after the lender for the property was given the go-ahead to foreclose on the building.