WILMINGTON- In an email message to Hermitage Club members sent last week, Hermitage founder Jim Barnes and president Harper Sibley hinted that the company is planning to file for bankruptcy.
“We have been working with highly experienced work out advisers, our tax partner, and our corporate and restructuring counsel over this period on exploration of a court-supervised reorganization plan,” according to the email, signed by Barnes and Sibley. “We expect to finalize this plan soon.”