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After lawsuits with UT and contractor, car wash seeks bankruptcy protection

from Austin Business Journal

From April 2: In the wake of court battles with a contractor and the University of Texas at Austin, Cedar Park's Tower Car Wash Inc. has filed for Chapter 11 bankruptcy protection. The car wash reported $4.4 million in assets and $3.8 million in debts, according to court documents. The largest creditors are Texas First Bank at $1.5 million and Texas Certified Development Corp. with a mortgage loan worth almost $900,000. Both Texas First and Texas Certified Development hold secured claims with land, the building and equipment listed as collateral. more


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