The owner of two of Round Hill’s largest commercial buildings filed bankruptcy last week, just days before a scheduled foreclosure.
The former bank building, at 21 Main St., was scheduled for a public foreclosure auction on Friday morning. However, the owner MAR MEG LLC, filed for Chapter 11 bankruptcy protection two days earlier. The company, which also owns the Patterson Building at 1 W. Loudoun St., listed assets of $1 million to $10 million and liabilities of $500,000 to $1 million in its filing with the Eastern District of Virginia bankruptcy court. The former bank building, which is vacant, is listed for sale or lease with Landmark Group Commercial Real Estate. It has an assessed value of $901,610.
Other commercial buildings in town also are seeing changes.
Veterinarian Valerie Campbell in May purchased the former Round Hill Grocery store following the deaths of longtime owners Robert and Frances Milligan. The store is expected to re-open this fall, following renovations.
Also on the market for sale is the Old Furniture Store on West Loudoun Street. Wally Johnson and Carolyn Kruger have listed the building for sale after opening the Round Hill Design Studio there for 14 years.