It is the moment Thunder Bay was hoping to avoid, the Hoito restaurant has filed for bankruptcy.
Finlandia Association board member Derek Parks has confirmed it, saying it filed on May 27th, with a first meeting scheduled for June 16th with creditors, via teleconference.
The matter is being handled through Trustee Grant Thornton of Thunder Bay.
The Finlandia Association board members recently agreed to sell off its assets to avoid bankruptcy, and soon after another local group began fundraising efforts to try and save the building from such action, all against a roughly $1-million debt.
