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Court docs disclose $2.8M offer for bankrupt winery

A potential deal is on the table for Spring Gate Winery in suburban Harrisburg.A buyer named Nitin Patel has offered $2.8 million for the winery, whose parent company filed for Chapter 11 bankruptcy protection in May, according to court records. The offer sets a floor for other potential bidders in a bankruptcy auction slated to unfold this month, pending […]

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C&N

Brian Tevlin has been named director of investment services at C&N Wealth Management, a subsidiary of Wellsboro-based bank C&N.Tevlin was previously regional manager of financial services for the bank and has helped its investment brokerage services transition to the LPL Financial platform. In his new role, Tevlin will lead and expand the C&N Wealth Management […]

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Discount retailer buys former Big Lots leases

Ollie’s Bargain Outlet Holdings is scooping up leases for seven former locations of its bankrupt rival, Big Lots. The stores include one each in Georgia, Illinois and Louisiana and four in Wisconsin, according to court documents. The price is about $620,000, subject to potential adjustments by the landlords.“These stores are the right size, located in good […]

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Retirement clouds leadership succession at regional bank

An early retirement is throwing off leadership succession plans for one of the region’s largest banks.Craig Kauffman, who was in line to take the top job at Orrstown Financial Services next year, retired as of Sept. 30, according to a Sept. 25 securities filing from the bank.Kauffman, Orrstown’s COO, decided to retire due to personal reasons and not […]

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Credit union to move Harrisburg branch to West Shore

PSECU is seeking permission to relocate its branch in Strawberry Square in downtown Harrisburg to a former FNB branch at 1249 Market St. in Lemoyne, according to a filing by the Department of Banking and Securities.The Harrisburg-based credit union picked the West Shore location, in part, because it is more accessible and convenient, said Adam Stewart, the credit union’s […]

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Developer appeals ruling that blocks York-area warehouse rezoning

Inch & Co. is appealing a York County court ruling that blocks the company from building a warehouse on land south of Route 30 in Manchester Township.The move continues a nearly two-year-old battle over the 52.7-acre site, which borders the Prospect Hill Cemetery.Some neighbors have opposed the warehouse plans since they became public, arguing the […]

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Changing spaces 09.30.24

Catherine Hershey Schools for Early Learning, a subsidiary of Milton Hershey School, officially opened an early childhood education center in Harrisburg, the second of six planned facilities. The 46,963 square-foot CHS Harrisburg at 1901 N. Sixth St. serves 140 children from six weeks to age 5 at no cost.Globix Holdings LLC has purchased 8001 Paxton […]

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Ports strike could spell supply-chain pain

Companies in Central Pennsylvania and beyond are bracing for a strike that could upend supply chains across the U.S.Workers who load and unload cargo at ports on the East and Gulf Coasts are poised to go on strike at midnight tonight, an outcome that looks increasingly likely to Peggy Stewart, international operations officer for Nexterus, a […]

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PA court rules in Covid-era insurance case

Insurers do not have to cover lost revenue for businesses that were forced to shut down during the early weeks of the Covid-19 pandemic. That’s according to a ruling handed down yesterday by the Supreme Court of Pennsylvania in a class-action lawsuit originally filed in Allegheny County court by a dental practice.The decision resolves conflicts between lower courts […]

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Harrisburg-area mall sold for $8.8M

A Massachusetts-based developer is acquiring the Colonial Park Mall, an aging retail complex that local officials hope to see rejuvenated.A partnership headed by the developer, Zi Qian “John” Zhang, paid nearly $8.8 million for the mall, which is at 4600 Jonestown Road in Lower Paxton Township, according to county deed records.Zhang is still working on […]

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Campbell Commercial Partners

Tyler Matisse has been hired as an associate at Campbell Commercial Partners, a real estate firm in Lemoyne.Matisse is a graduate of Mechanicsburg Area Senior High School who went on to study business and hospitality management at Penn State Harrisburg. He has been licensed in real estate for over three and half years and has […]

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Voith

Dirk Hoke has been named president and CEO of Voith GmbH & Co. effective April 1. He will be succeeding Toraff Haag, who left the company in August. Andreas Enders, CEO of Voith Paper, is serving as interim CEO.Hoke has worked most recently as CEO of Volocopter, an aircraft manufacturer based in Bruchsal, Germany.After studying […]

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Community banks in northcentral PA to merge

Mifflinburg Bancorp and Northumberland Bancorp, a pair of small community banks in northcentral Pennsylvania. said yesterday they are combining in a merger of equals valued at $34.2 million. The all-stock deal is expected to close in the first half of 2025.Mifflinburg Bancorp has assets of about $568.5 million and operates seven branches in Mifflinburg, Lewisburg, Millheim, Milton, Selinsgrove […]

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Lenders balk at bankrupt winery’s reorganization plan

The bankruptcy sale of Spring Gate Winery is facing some headwinds.In legal filings this month, two lenders came out against the reorganization plan filed by the Harrisburg-area winery’s parent company, Schoffstall Farm LLC.At issue is the distribution of the proceeds from a sale of the winery, should a buyer be found.One lender, Horizon Farm Credit, is objecting to language saying it would […]

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Fulton edges past PNC for market-share lead

A seven-county swath of Central Pennsylvania has a new No. 1 when it comes to bank deposits.Lancaster-based Fulton Bank has eclipsed longtime leader PNC Bank for the top share of deposits in Adams, Cumberland, Dauphin, Franklin, Lancaster, Lebanon and York counties, according to the latest data from the Federal Deposit Insurance Corp.As of June 30, Fulton had 15.44% of […]

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WellSpan, health insurer clash over contract renewal

Health insurer UnitedHealthcare and regional health system WellSpan Health are sparring over a new contract governing their relationship, affecting about 36,000 patients in the region.Both entities say they are negotiating in good faith and hope to reach a deal before the current contract expires at the end of October. Nonetheless, they are taking aim at each other’s business models.In a […]

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Nonprofit lender lands $40M in tax credits to back projects

Community First Fund has been awarded $40 million in new market tax credits, which it can use to support economic-development projects around the region. The credits are awarded annually by the U.S. Treasury on a competitive basis. Based in Lancaster, Community First was awarded $30 million in new market tax credits last year.Those credits are helping to […]

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