Brookfield-based Nelson-Gordon Enterprises Inc. has filed to restructure its finances under bankruptcy protection from creditors, with Newtown Savings Bank owed $4 million.
Operated by Gary Gordon, the company also does business as The Dive Shop Aquatic Center, offering scuba lessons in its own indoor pool. On the Dive Shop website, a page is reserved for soliciting investors who can chip in at least $50,000 to complete construction of the center, promising interest and a lifetime membership.
The Newtown Savings loans were made under the U.S. Small Business Administration”™s guaranteed loan programs, which could allow Newtown Savings to recoup most of the principal if Nelson-Gordon is unable to make good on future payments.
Several other banks are listed as creditors for credit card purchases rung up by Nelson-Gordon.
