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Investors ask Georgetown business district for $50,000 to help keep Save-a-lot store open
Summary
Investors told the Georgetown Business & TIF District Committee they have invested roughly $100,000 to keep the local Save-a-lot operating, say the store owes about $335,000 to vendors and asked the district for $50,000 to pay down supplier debt while franchise approval and probate proceed.
Darren Alexander, an investor in the Georgetown Save-a-lot, told the Business & TIF District Committee on Sept. 15 that he and fellow investors Sean and Makaelyn Legacy have put significant personal funds into operating the store and are asking the district for $50,000 to pay down supplier debt.
Alexander told committee members that the store’s original owner, Tony, has died and the business must go through probate, a process he said could take between nine months and a couple years. He said the investors cannot complete a purchase until all existing debts are paid and Save-a-lot corporate approves any new owners;…
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