Wilton Properties was recently ordered, under a continuing 2010 bankruptcy deal, to sell a major block of stock to help pay creditors. The judge, handling the bankruptcy case, ordered the sale of the stock to continue liquidation of Wilton assets, according to BizSense.com.
Wilton Family Investments LLC, which owns the Iron Mill development on Iron Bridge Road just west of Chester, will not be affected at this time. The Iron Mill project has stalled, but to date the Wilton entity that owns the property, and the project itself, has remained untouched by the bankruptcy.
Hank Wilton’s company, which has been developing Iron Mill, has constructed curb and gutter, but the streets remain unpaved. The development and has subdivided 42 lots in the multi-family project that totals over 115 acres.