The Oregon Biz Report - Business News from Oregon

Read about accutane journal moderate acne here

The story behind the closing of the historic View Point Inn

August 16, 2011

Fire and Financial Woes Close Historic View Point Inn
By Oregon Small Business Association

An accidental fire at the historic View Point Inn and Restaurant overlooking the Columbia River Gorge left the Inn’s future in limbo. The fire apparently started when a spark from the chimney ignited the roof on July 10, closing the Inn indefinitely. Co-owner Geoff Thompson and his partner, Angelo Simione, hoped to rebuild the Inn, but financial woes quickly quashed their dream.

Geoff Thompson filed for bankruptcy in late June to prevent selling the inn in a foreclosure auction. However, after the fire, Thompson lost control of the inn when the bankruptcy court converted his Chapter 11 bankruptcy filing, which allowed him to continue running the inn with protection from creditors, to Chapter 7, which allows a trustee to take over and liquidate the debtors’ assets.

After losing the Inn, the Portland Business Journal reports Thompson’s debts total $2.92 million to his top 20 creditors. The creditors include former employees of the inn, who are seeking thousands of dollars for unpaid wages through the Oregon Bureau of Labor and Industries.

Despite Thompson’s financial troubles, he quickly pointed his finger at Representative Matt Wand, who participated in the bankruptcy hearing while representing Steve Serafini, a creditor who Thompson owes about $200,000; and Dick Wand Construction, which Thompson owes around $20,000 to $30,000 in principal, interest, attorneys’ fees and collection fees. The Portland Tribune reported that Simione and Thompson blasted Representative Wand for killing their dream of keeping the Inn.

The Portland Tribune also reported that Representative Wand said his uncle, Dick Wand, performed $10,000 in construction at the inn four years ago but never received payment. With the sky high debt, the historic landmark’s future is grim.

Print This Post Print This Post    Email This Post Email This Post

Discuss this article

Stephanie August 16, 2011

Geoff has an ad on craigs list to rent out the house he and angelo live in. The house is supposed to be part of the assets to be liquidated so people should beware of giving him money and moving in.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please answer the following question to confirm that you are a real person: *

Top Business News


Top Natural Resource News


Top Faith News


Copyright © 2019, OregonReport. All Rights Reserved. | Terms of Use - Copyright - Legal Policy | Contact Oregon Report

--> --> -->