LuxUrban founder Brian Ferdinand files for personal bankruptcy - Horizon InvestingHorizon Investing 63725

The fallout from LuxUrban Hotels’ spectacular unraveling is no longer confined to courtrooms, creditors and locked hotel doors. For a former executive, it’s turning personal. Brian Ferdinand, the founder and former chief t1tt1e5 executive of the short-lived hotel operator, filed for Chapter 7 personal bankruptcy last month, seeking a clean break from nearly $100 million in liabilities tied largely to the company’s failed New York City hotel leases. Ferdinand reported less than $4.5 million in assets against more than $98 million in debt, according to the filing, first reported by Bisnow. At the core of the wreckage are the personal guarantees […]