Central MA Investor Faces $70M In Debt, Files For Bankruptcy: Report

WORCESTER, MA — A prominent real estate investor in Central Massachusetts has filed for bankruptcy, according to the Worcester Business Journal.

Charles "Chip" Norton filed for bankruptcy amid five lawsuits accusing him and his businesses of unpaid debts, according to a report from the WBJ. Creditors have claimed the developer is $70 million in debt.

Norton is the owner of Worcester's Mercantile Center and the largest commercial property owner in Central Massachusetts. His firm, Franklin Realty Advisors, faces five lawsuits across three states.

WBJ reports that findings show Norton made guaranties involving business loans on properties including the Mercanile Center, the Worcester Business Center, the Wellsworth Hotel and the Southbridge Innovation Center.

Read the full report from the Worcester Business Journal here.

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