The owner of the property that houses the historic Bethesda Community Store has filed for Chapter 11 bankruptcy, The Gazette reports.
An auction that had been set for the property for Tuesday was called off after the bankruptcy filing.
The store, a historic site that’s been a fixture in the community since 1924, will continue to operate at the site.
The property owner, Greentree Associates in Chevy Chase, wasn’t able to negotiate the terms of their loans with The Harbor Bank of Maryland, Greentree managing member Gary Jaffe told The Gazette.
“It’s the bank that’s the problem,” Jaffe told The Gazette. “It’s not the business there.”