TAMPA, Fla. (WFLA) – A central Florida-based vacation rental company filed for Chapter 11 bankruptcy this month.
NBC’s affiliate WBBH reported that its IPG franchise is facing increasing numbers of lawsuits. Investors are now purchasing contracts to manage vacation rentals while processing payments.
Some investors complained that the company delayed or stopped paying for them.
An investor in the IPG franchise told WBBH it has been several months since the company paid her something. She estimated her family was out of more than $200,000.
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“It’s a huge amount of money. It’s a savings on our lives. It’s the money that’s taken from my children,” Jane Sonkin told Gulf Coast News earlier this year. “There are no more properties. There’s no communication. There’s nothing left.”
WBBH reported that more than 80 creditors were listed in bankruptcy filings. The company’s estimated assets are less than $50,000, but showed that it has liabilities of between $1 million and $10 million.
Records obtained by the news station show that the owner of the IPG franchise also operates other companies, including the attitude of the Manasota Kee Island, which managed local vacation rentals before it was devastated by Hurricane Milton.
