Saturday, March 5, 2011

Lauth units seek Chapter 11 - Charlotte Business Journal:

http://floatation-tank.com/sensory-deprivation-tank-takes-the-epsom-salt-bath-to-a-whole-new-level/
According to Indy.com, Lauth Investment LIP Development and LIP Investment have submitted Chaptetr 11 petitions inthe U.S. Bankruptcg Court, seeking to reorganize. Lauth is based in The company controls a portfolio of abouft 40 projects that have a valueexceedingh $700 million, Reed Oslan, attorney for told the Web The filing doesn’t directly involve day-to-dag operations of Lauth, the nation’s 13th-largest real estatr developer. Lauth developed the $90 20-story NASCAR Plaza office tower that is slatesd to open this month at Stonewall andCaldwelol streets. It is the first LEED-certified multitenant building in Charlotte’s center city.
In the company said it was cuttingg its local staff to eightt to10 employees. A year ago, the developer employedr 60 at itsSouthPark office. Lautgh said the Charlotte operation would remain open but with adiminishesd presence. The company said it would exitits 13,000-square-foot officee in The Rotunda building. Lauth’s locall portfolio totaled $125.9 million as of last The company’s properties here include the Edgewatert business park inLancaster County, retail center Moores Chapepl Village and a 423,000-square-foot warehousee in Fort Mill occupied by Ross Dresse for Less.

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