GRAND RAPIDS, Mich. — 616 Lofts has filed for Chapter 7 bankruptcy.

The company has developed several residential properties around Grand Rapids, many of which are located in or near downtown.

The properties are all owned by individual investor groups.

According to 616 Lofts' petition, the company has more than a dozen creditors, less than $50,000 worth of assets and between $1 and $10 million dollars in liabilities. 

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