The trend toward small businesses’ delaying payments appears to have leveled off, but it’s still unclear how soon—or even whether—receivables will return to the 30 days that was standard for most businesses before the recession began in December 2007.
Owners of the Indiana Live racetrack and casino face an interest payment on the lion’s share of their $544 million in debt next month, as credit analysts continue fretting about the company’s ability to pay its bills.
Three of the four principals in Page Development were in court June 8 to sift through the fallout from a $1.35 million judgment
against them. It’s only the tip of Page Development’s financial straits.
A mix of business and personal woes have pushed Steven Carter Ross, the longtime owner and manager of the Vogue nightclub,
into personal bankruptcy. Now a judge must decide whether Ross can keep the popular Broad Ripple music venue, or if he must
sell it to satisfy his creditors and his estranged wife.
Indianapolis businessman Tim Durham has treated Ohio-based Fair Finance Co. almost like a personal bank since buying it seven
years ago, and now he, his partners and related firms owe it more than $168 million, records show.
A high-flying Carmel businessman who moved his base of operations to Miami a couple of years ago is accused of burning through
$160 million of investors’ money in the collapse of his real estate empire.
Trade groups that host the Indianapolis Auto Show and represent 600 car dealers in the Legislature stand to lose $1.7 million they loaned to a local debt-collection agency–loans that sources said were made without the knowledge of the groups’ boards or membership.