Metro Atlanta real estate firm files Chapter 11
A metro Atlanta RE/MAX franchise has filed for bankruptcy protection listing up to $10 million each in assets and debt.
RE/MAX Greater Atlanta filed for Chapter 11 protection on Monday under its business name, Greater Atlanta Brokerage Solutions LLC, according to a filing in U.S. Bankruptcy Court in Atlanta.
Chapter 11 allows a company to remain in business as it restructures debt. RE/MAX franchises are independently owned and operated businesses.
Offices in Sandy Springs, Atlanta, Johns Creek and Dunwoody operate under the RE/MAX Greater Atlanta name, according to its website.
The RE/MAX Greater Atlanta Cobb office, however, is a separate LLC and is unaffected by the ongoing situation, RE/MAX corporate officials said.
A message left with Stephen M. Klein, listed in the bankruptcy filing as the company’s chief restructuring officer, was not immediately returned. A message left with the agency’s bankruptcy lawyer also was not immediately returned.
About the Author
J. Scott Trubey is the senior editor over business, climate and environment coverage at The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. He joined the AJC in 2010.
