John Q. Hammons declares bankruptcy to focus on legal issues
SPRINGFIELD (AP) — The head of a Missouri-based hotel chain that has 35 properties in 16 states says her company filed for Chapter 11 bankruptcy over the weekend so it could better deal with ongoing legal battles.
John Q. Hammons Hotels & Resorts CEO Jacqueline Dowdy says she doesn't anticipate the company's business operations being disrupted because of the Sunday filing in federal bankruptcy court in Kansas City, Kansas.
The Springfield News-Leader reports the bankruptcy filing puts the brakes on a trial in Delaware that had been scheduled to start in late July.
That trial involves a dispute between the company and entities associated with investor Jonathan Eilian, whose entities loaned John Q. Hammons $300 million in 2005 so he could take his publicly-traded company private.
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