A former bank facing a new round of financial crisis.
The building that houses Vanquish (1005 E. Main St.) and Bank/Vault before will be up for foreclosure auction on February 19th. This isn’t the first time that Mo Roman, owner of Roman Development LLC, has had to deal with the threat of foreclosure.
Richmond BizSense.com has all the details.
Two LLCs that owned the Pie space and another of Roman’s restaurant properties in Stafford, Virginia, filed last-minute bankruptcies to stave off the bank’s attempts to foreclose.
Fulton Bank is also the lender on the downtown property. This latest foreclosure attempt stems from Roman Development defaulting on a loan issued in 2005 by the Pennsylvania-based bank.
The loan was originally for $225,000 and in 2006 was modified to $481,000.