Despite bankruptcy, gift shop owner vows to repay
A downtown McCook gift shop has filed for bankruptcy protection, but its owner assured Red Willow County commissioners Monday morning that she intends to repay her loan from the county.
Betty Kenner, owner of Accents Etc., told commissioners during their weekly meeting that Chapter 11 bankruptcy will allow her to reorganize, stay in business and continue to liquidate inventory to pay her creditors. “I’m still trying to get everybody paid,” Kenner said. “I reassure you, I’m not trying to skip out.”
Kenner owes the county’s revolving loan program $44,251 of a $70,000 loan taken out in August 2006. With the seven-year, 5 percent/interest loan, Kenner bought out partners who retired, and continued the gift, flower, framing and antique consignment shop in the 300 block of Norris Avenue in downtown McCook.
County Attorney Paul Wood told commissioners that Chapter 11 bankruptcy is not liquidation, but will allow Kenner to reorganize to pay her debts.
Commissioner Leigh Hoyt asked Wood, “This will reorganize what we’ve already reorganized?”
