Chartwell Staffing Solutions loan foreclosed by lender

(Your digital wall Editorial):- Chicago, May 29, 2019 (Issuewire.com) – LQD Business Financial Services LLC filed confessions of judgement against Chartwell Staffing Solutions along with its CEO William Holmes Lilley III, the company owner and President Tracy Schneider Kidan and her husband. The filing was made in Cook County Circuit Court under file 2019-L-50177.

LQD provided Chartwell Staffing with a loan in the sum of $4.3mil as a secondary lender. Chartwell’s primary lender according to UCC filings is Citizen’s Bank and processed through Madison Resources of Portsmouth, NH.  According to Court documents Mr Lilley does not own any part of Chartwell Staffing but provide a personal guaranty to the loan documents. The company was listed as one of the largest women-owned staffing companies in the world. The sole shareholder is Tracy Schneider Kidan who entered into a loan agreement earlier this year with LQD Business Finance. Mrs Kidan’s husband Adam, who is not a shareholder was required to sign the documents as a spouse, as stated in the Court filing.

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George Souri, the President of LQD stated that “we are exploring all of our options with this filing being the first step.” The Chicago based lending company was founded by attorney Souri who has a strong background in taking companies through bankruptcies.

Chartwell Staffing Solutions is based in Lancaster, PA with office throughout the country. It was listed in the Staffing Industry Analysts as one of the largest staffing companies in the world (number 98) and in the USA as (number 32). The company listed revenue of $347.mil to the Central PA Business Journal.

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This Press Release was originally published by IssueWire. Read the original article here.



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