The owner of a renovated theater along South Broadway in Denver has filed for bankruptcy to stall a lender’s plan to foreclose on it.
Sonquist LLC, managed by real estate attorney Doug Norberg and business partner Paul Yaft, filed for Chapter 11 protection Friday.
“Imminent public trustee foreclosure scheduled, automatic stay necessary to preserve estate assets,” the filing states.
Norberg and Yaft didn’t respond to requests for comment.
The pair bought the former Jewel Theater at 1912 S. Broadway for $1.6 million in December 2018, months after the closure of a climbing gym that had operated there for a quarter century.
“We spent a bunch of money fixing broken and missing plaster and redoing flooring and fixing brick and…