Little Tokyo Property Owner Files for Chapter 11 Bankruptcy

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A Japantown property owner has filed for bankruptcy over three years after its acquisition of Little Tokyo landmarks in Los Angeles stirred controversy.

Little Tokyo Partners, the owners of the Kyoto Grand Hotel and Gardens and Weller Court, filed on July 15 for Chapter 11 bankruptcy reorganization. The filing comes after news broke that the owners, also known as 3D Investments, were in default of a loan.

Retailers of Weller Court say they have heard, through word-of-mouth, about the property owner’s financial woes. But some say they are more concerned about how the downturn in the economy has affected business than listening to rumors.

“We are planning to move. I’m thinking about it at this time,” said Yoshinosuke Kurita, who owns the Vantage Golf and Sport Shop in Weller Court. “The economy is so bad.”