Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, May 24, 1990 TAG: 9005240077
SECTION: BUSINESS PAGE: C-6 EDITION: METRO
SOURCE: GEORGE KEGLEY BUSINESS WRITER
DATELINE: LENGTH: Medium
The pool, formerly operated by Herbert Arnold, has been leased from the city of Roanoke. The city bought the land at the foot of Windy Gap Mountain when it planned a reservoir on Back Creek. That plan was stopped by failure to reach agreement with Roanoke County.
Arnold reported debt of $2.1 million and no assets for the swimming pool, a concession stand and campground. Arnold leased it to another operator last summer.
In another major business liquidation, Dimension Drying Inc., a Bluefield company, listed debt of $12.6 million and assets of $60,500. Much of the high debt total was a claim of $9.9 million from a lawsuit filed by Durrett Enterprises of Belington, W.Va., against Dimension Drying.
Dimension Drying, headed by Margaret R. Compton of Daniels, W.Va., has made, sold and leased wood drying equipment for about six years. An additional claim of $2.3 million was filed against the company by Flat Top National Bank of Bluefield, W.Va.
In other business petitions, NABS Properties, a Roanoke general partnership headed by Paige B. Scott, asked for liquidation, reporting debt of $173,275 and assets of $137,000.
Jerry F. and Joyce Page, trading as C & E Crafts of Christiansburg, filed for liquidation. They said their debt totaled $257,684 and they reported no assets. Frank and Trisha B. Osborne of Radford filed for reorganization, reporting debt of $772,719 and assets of $294,746. Frank Osborne is a real estate developer and former partner in New River Training Stable, according to court papers.
David and Shirlene Goode, doing business as F & M & Goode Builders, Coeburn, asked for liquidation, reporting debt of $8,374 and assets of $9,435.
***CORRECTION***
Published correction ran on May 26, 1990\ Clarification
Tobey Chambers said he will operate Sun Valley Swim and Slide Inc., starting about June 15, as he has for the last two summers. He bought the business in 1988 from Herbert Arnold, who has filed for liquidation of his corporation in U.S. Bankruptcy Court in Roanoke. A story in Thursday's editions about the bankruptcy filing did not mention that the business will remain open.
Memo: correction