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Posted April 16, 2013 | Leave a comment
Stoney Creek Roller Rink facing foreclosure, auction
By Sally Voth
The Kingree family has been providing entertainment to Shenandoah County residents for more than six decades, but now faces the possibility of losing its business.
Stoney Creek Roller Rink & Fun Center, located at 113 Indian Spring Road, Woodstock, is scheduled to be auctioned off in a trustee's sale on May 2 on the Shenandoah County Circuit Courthouse steps.
The nearly five-acre site is being foreclosed on by City National Bank, said attorney R. Keith Richards, substitute trustee.
"If they pay the bank that's foreclosing it off in full before the foreclosure date, then it won't happen," he said Tuesday afternoon. "All the bank is looking for is their money.
"The bank is going to start with an opening bid, but they've not determined what that opening bid will be yet."
Two deeds of trust were recorded in September 2004 and February 2007, and made by Allen and Carolyn Kingree, and Michael and Debbie Warner, according to an ad for the sale.
In addition to the roller rink property, about three acres in the Woodstock North Business Park are scheduled to be auctioned off as well, according to the ad. It's described as unimproved and zoned commercial.
Kingree's parents built the original roller rink building, on Stoney Creek Road (Va. 675) west of Edinburg in 1948, according to the roller rink's website, www.stoneycreekrollerrink.com.
It started off as a grocery store and pool hall with a dance hall added in the early 1950s, the site states. Soon, a wooden skate floor was added.
Ten years ago, the Kingrees and Warners -- Mrs. Warner is the daughter of the Kingrees -- bought the former VF Jeans Wear factory (which had previously housed Wrangler and Blue Bell operations), and moved the roller rink there, adding party rooms, an arcade, laser tag, an indoor playground, miniature golf and bumper cars, according to the site. Since then, a fitness center and salon also have been added.
Mrs. Warner said Tuesday the family hopes to save the building from foreclosure. She said the business's loan was up for renewal, but the bank had changed ownership.
"We assumed when the bank changed ownership, we would be able to stay on board," she said.
That wasn't the case, Mrs. Warner said, and they're shopping for another bank or private investors.
"[It is] near and dear to the heart in the community," she said. "We're fighting through and shopping, and doing whatever we possibly can at this point because our intention is definitely [to] keep it open."
Mrs. Warner said banks seem unwilling to work with small business owners, and lending criteria is "very difficult" to match.
"I think if we were a first-time home buyer..." she said. "That market apparently is really good right now. Business lending is just terribly difficult. I know it's not just us."
Like many businesses, the roller rink has been affected by the economy, Mrs. Warner said. She said that has meant tighter budgets and longer working hours for owners.
Contact staff writer Sally Voth at 540-465-5137 ext. 164, or firstname.lastname@example.org
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