Bar Harbor inn owners file for bankruptcy
Two inns in Bar Harbor could be changing hands after their owners filed for bankruptcy protection.
Joan and Daniel Mills, owner of The Ledgelawn Inn and the Sea Breeze Ocean View Motel, filed for Chapter 11 in U.S. Bankruptcy Court in Bangor late last month in order to delay a foreclosure auction of The Ledgelawn, according to the Bangor Daily News. The couple has $2.6 million in assets and $4.5 million in liabilities. Tranzon Auction Properties, hired by Machias Savings Bank, has rescheduled the auction for March 19. The Sea Breeze Ocean View Motel, which the Millses bought in 2002 for $2 million and for which they have two mortgages, is listed for sale by The Swan Agency for nearly $3.1 million.
Bankruptcy documents also show the couple, either jointly or separately, own three parcels of real estate in Hancock, and have stock or financial interest in the Chiltern Inn in Bar Harbor and the Smugglers Cove Inn in Boothbay. A woman at the Smugglers Cove Inn refuted the couple's connection to the property, according to the paper.
Go to the article from the Bangor Daily News >>
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