Comfort Inn and Golden Corral struggle is over
A Florida lender that has been pushing the Patel family through bankruptcy court will take over the Comfort Inn & Suites hotel and the Golden Corral restaurant on Old Gick Road in Wilton, the Albany Business Journal is reporting. Niral Patel who has owned the property with family for 20 years will surrender the property to the highest lender: SDI Matto JV Holdco LLC of Florida, the story says. Federal bankruptcy court had OKed the transfer for $8.3 million in July, and Patel fought to find another lender and restructure debt and contracts, the story says.
Start-up Capital Firm based in Saratoga looks out-of-region
OutBound Capital in Saratoga Springs has raised $3 million with an eye to raise $5 million by year’s end, says a story in the Albany Business Journal. The company is looking to invest elsewhere, in places like San Francisco, New York and Denver, what the CEO of the company calls the “premiere start-up hubs” in the country. Michael Kocan said upstate New York doesn’t catch his eye for start-up business, the story says. His firm's investment focus is on financial and banking technology and on aerospace.
Cambridge Hot Air Ballooning back on in 2022
Balloon enthusiasts, supported by the local chamber and business leaders, lit up the facade of historic Cambridge Hotel. Called a “candlestick event” in which balloon baskets sat on the street in front of the building and blew their torches high, was a fundraiser for, and reminder of, the Balloon Festival which would have turned 20 this year but was pandemic-canceled, the Post-Start is reporting. A barbecue, a table selling balloon memorabilia, and games of skill and chance raised money for the next event, the story says. The fest will hold its 20th-year celebration in 2022.
Springs casino is haunted
Ghosts haunt the Canfield Casino in Spa City’s Congress Park, says a story in the Times-Union. Most likely, the story says, it’s the Walworth family who had a mansion on North Broadway and whose furniture outfitted the second floor of the casino. The family thinks it is home, officials posit in the story. Built by John Morrissey, the building was constructed for out-of-town men to come with their “nieces” and lose a lot of money in the gambling parlor on the second floor.