The failed Revel casino has yet to execute a sale of the property. But its outstanding tax bill at least will be bought, at Revel’s typical deep discount. The $32.5 million tax lien against the shuttered Revel casino that failed to sell at a city tax sale this month will be bought by Wells Fargo in a settlement for $26 million, Atlantic City Mayor Don Guardian said Monday.
Women’s clothing chain Coldwater Creek has filed for bankruptcy and plans to liquidate its operations.
The Idaho retailer — which has Pittsburgh-area stores in Ross, Monroeville, Mt. Lebanon, Cranberry, Grove City and Erie —announced that it plans to start liquidation sales in early May. The company’s most recent quarterly report listed 343 traditional stores, 36 factory stores and 7 spas.
Coldwater Creek said it has been reviewing its options for the past six months and considered many options, including a sale of the company. But the company wasn’t able to find a buyer or a source of enough capital to turn the business around.
Lancaster County Commissioner Scott Martin announced an agreement Wednesday that promises to put the Lancaster County Convention Center on solid financial footing.
But it requires significant concessions from six parties, and that work is not yet complete.
One of those parties, Penn Square Partners, was noticeably absent from the press conference in the commissioners’ meeting room.
Penn Square Partners Vice President Mark Fitzgerald said later Wednesday the private-sector partners participated in crafting the agreement and agreed with its provisions in principal.
Jon Dugan, 30, formerly of the 500 block of Douglass Drive, Douglass (Berks), and most recently of Township Line Road, Royersford, was sentenced in Montgomery County Court on Friday to five-to-23 months in the county jail, to be followed by five years’ probation, after he pleaded guilty to multiple charges of theft by deception in connection with incidents that occurred while he worked for the Wells Fargo Bank branch, 1470 E. High St., between June and August 2011.
Judge Gary S. Silow also ordered Dugan to pay $7,671 in restitution to the bank.
Dugan must report to jail on July 26 to begin serving the sentence. Dugan is eligible for a jail work-release program during his incarceration.