The upscale Pinnacle, a popular metro Toledo banquet hall, has been sold two months after revelations of financial problems.
"The sale provides a new beginning for the Pinnacle " said buyers Mark Thees and Liz Thees, who operate Central Park West banquet facilities in Sylvania Township. Mr. Thees is an uncle of former owner Thomas Thees.
Last April, it was revealed that WAMCO 31 Ltd., of Waco, Texas, which holds the note on the facility in Maumee's Arrowhead Park, obtained $2.2 million in liens against the business and Mr. Thees personally. The facility also was the subject of a separate foreclosure action.
A news release announcing the sale, which was finalized Wednesday, said that Thomas Thees has retired from the catering business but will work as a consultant advising other caterers. None of the parties could be reached for comment last night.