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Posted May 7, 2013 | Leave a comment
Roller rink owners file for bankruptcy
By Sally Voth
The owners of Stoney Creek Roller Rink & Fun Center in Woodstock have filed for bankruptcy in U.S. District Court.
Carolyn June and Allen Edward Kingree Sr. filed for voluntary Chapter 11 bankruptcy on April 30, according to online court records.
The filing came two days before the roller rink, at 113 Indian Spring Road, along with a site in the Woodstock North Business Park, were scheduled to be auctioned off in a trustee's sale.
The bankruptcy petition indicates the Kingrees have assets worth an estimated $1 million to $10 million, while their estimated liabilities fall into that same bracket.
Creditors holding the 20 largest unsecured claims are owed more than $500,000, according to the filing. Many of the creditors are credit card companies, while United Bank has an unsecured claim of $118,809 for a commercial lot behind the roller rink, and $11,200 is owed in back rent for Valley Treasures.
The roller rink also owes close to $60,000 in taxes, according to the filing.
The Kingrees' daughter, Debbie Warner, who owns the rink with them and her husband, Michael, said the family continues to try to save the rink and entertainment center.
"We're kind of reorganizing things," she said in a Tuesday afternoon phone interview.
She said her father owns various commercial properties, and many are for sale, as is the roller rink.
"The rink's been listed since last summer," Warner said.
Warner's grandparents built the original Stoney Creek Roller Rink about 60 years ago on Stoney Creek Road (Va. 675) west of Edinburg.
Last month, Warner said issues arose with the current facility when its loan came up for renewal after the bank changed ownership. That left the family searching for another bank or private investors.
On Tuesday, Shenandoah County Public Schools students were at the rink to celebrate their graduation from the D.A.R.E. program. Warner said 180 kids were at the center.
She said the community has been sympathetic to the business' plight.
"I've had some kids come through the door crying, which has been very difficult for me," Warner said. "I really don't want to have to sell that, but we have everything listed except for our homes. It's really important to the community.
"Lot of positive people, and people coming in and supporting us, too. It's good to that they're wanting us to stay. We're not going down without a fight," she said.
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