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.
