The Chattanooga businessman who brought the historic steamboat Delta Queen to the riverfront as a "floating hotel" has filed for personal bankruptcy.
Harry Phillips listed up to $50,000 in assets and millions of dollars in debt.
Mr. Phillips said, "The Delta Queen and the Water Taxi are not and will not be impacted whatsoever."
Mr. Phillips earlier founded a storage company.
He later renovated the old Colonial Hotel on E. 10th Street into a boutique bed and breakfast inn. He later sold the StoneFort Inn.
Mr. Phillips has been active along the riverfront, setting up the Chattanooga Water Taxi and the Fat Cat Ferry.
Debts include over $1.4 million ($1.1 million of it secured by their home at 1717 Glenn Road) to American Home Mortgage, $48,407 to AT&T Advertising, $446,776 to First Tennessee Bank, $115,000 to First Tennessee Bank, $50,000 to First Tennessee Bank, $15,702 to First Tennessee Bank, $54,051 to First Tennessee Bank, $338,951 ($250,000 secured) to Regions Bank, $101,308 to Regions Bank, $24,599 to Regions Bank, $323,752 to Regions Bank, $2.5 million to GHP Capital of Greenwood Village, Colo., and $1.5 million to James and Mary Martin of Lookout Mountain, Tn.
The Chapter 11 filing by attorney Cara Alday was assigned to Judge Tom Stinnett.