BALTIMORE-An auction for the boutique hotel the Inn at the Black Olive was cancelled after the ownership filed for Chapter 7 bankruptcy protection this morning.
The auction on the 12-suite hotel was scheduled for earlier today (Thursday) at 9 a.m. Stelios Spiliadis, who owns the 12-room hotel in Fells Point with his family, says he will be attempting to secure financing to continue operating the hotel, the attached market and the Black Olive restaurant, according to the Baltimore Business Journal. The boutique hotel opened in 2011.
“The aim is to really find a way of maintaining the building and continuing with the programs,” Spiliadis says.
Black Olive Development Co. LLC filed for bankruptcy in the U.S. Bankruptcy Court District of Maryland. The company lists assets of $0-$50,000 and liabilities of $1 million to $10 million. See story in the Baltimore Business Journal.
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