Well its gotten to that point, where Scott Bosgraaf deserves his own post. Oddly enough it seems that he has been following in his former lessee, Brett Flipse’s footsteps.
Last time I wrote about Scott Bosgraaf he seemed to be doing quite well, owning several companies and building developments, but as you can see many of these are running into trouble:
- Scrap Yard Lofts
Baker Street Lofts- In Foreclosure
- Deli Joe’s - Part of Baker Street Lofts
- Baker Loft Event Center – Part of Baker Street Lofts
Woodword Station– In Foreclosure
- Kirsch Lofts
Central Lofts– In Litigation Auto Sports Unlimited– Filed for bankruptcy Faargsob LLC– Filed for bankruptcy
- Theodore’s Restaurant
Bosgraaf Commercial– Part of Auto Sports Unlimited Holland Transmission– Part of Auto Sports Unlimited
Huntington Bank was a major financier for Bosgraaf, had enough, and decided to pursue action against Bosgraaf. The bank began to take some properties into foreclosure, and initiated some lawsuits to receive payment on loans. Auto Sports Unlimited (which was used as an umbrella company to Bosgraaf Commercial, and Holland Transmission Service) and Faargsob (Bosgraaf backwards) where used as collateral for some of his developments, and both have filed for bankruptcy. The legal battles between Huntington Bank and Bosgraaf are ongoing so we will have to wait and see how this will all play out.
The situation between Bosgraaf and his lenders has been brewing for awhile. Back in January 2011, I noticed lots of visitors to The Ledger were searching for “Scott Bosgraaf foreclosure” or some variation of that. At the time I could not verify any of that information, but now the press has caught wind of the story.
Read more at Holland Sentinel, Grand Rapids Press, Argus Press, and my original post here.
Though I do love the title for this Scott Bosgraaf photo “Scott Bosgraaf of Baker Lofts stand in the wine cellar at what could be Theodore, the new restaurant at Baker Lofts. “ At what could be… really?