The owner of a property near the Interstate 70-Pena Boulevard interchange where a hotel is under construction has filed for Chapter 11 bankruptcy.
In an Oct. 3 filing, WPB Hospitality LLC said it owes between $10 million and $50 million to less than 50 creditors. It listed assets of less than $50,000.
Companies use Chapter 11 bankruptcy protection to reorganize and help keep the business alive, paying creditors over time.
Wanda Bertoia is the owner of WPB Hospitality, according to the bankruptcy filing. Attempts to reach her for comment were unsuccessful. Denver attorney Arthur Lindquist-Kleissler, who is representing the entity in the bankruptcy proceedings, did not respond to requests for comment.
WPB Hospitality lists a residential address in Aurora as its “principal place of business,” but said its principal assets are located at 16161 E. 40th Ave. in Denver.
WPB Hospitality purchased the 4-acre property in May 2009 for $2.97 million, according to records.
An entity called Alpine Hospitality LLC subsequently submitted a site-development plan to the city proposing the construction of a six-story Best Western hotel on the property. The plan, which Bertoia signed on behalf of Alpine, was approved in 2009.
Alpine Hospitality is the largest creditor listed in WPB’s bankruptcy filing. The $5.03 million claim is classified as “trade debt.” WPB also said it owes $4.5 million to AM Lending Center of Long Beach, California, and $500,615 to Aileron Investment Management LLC of Tampa, Florida.
The unfinished structure currently on the site is four stories tall and surrounded by construction fencing. No one was working at the site last Wednesday.
The city received permit applications related to work at the property as recently as March, according to online records, which indicate the planned hotel brand had changed to be a Four Points by Sheraton. Sheraton did not respond to a request for comment.
About a dozen other hotels are located a short distance from the property.