Business Briefs

Auction of downtown Fayetteville brings no bids

Posted December 16, 2010 4:10 p.m. EST
Updated January 5, 2011 5:17 p.m. EST

— A downtown Fayetteville building that once housed a department store and then an entertainment venue failed to attract any bidders Thursday when it was sold at auction.

North American Savings Bank now controls the Capitol building on Hay Street. The venue reopened to great fanfare three years ago when investors transformed the former department store into Dock's at the Capitol, which was billed as the premiere entertainment center in downtown Fayetteville.

The facility closed to the public in early July when North American Savings Bank began foreclosure proceedings, and the foreclosure was completed in August.

In July, Dock’s owed nearly $250,000 in state sales taxes in addition to a $4.3 million loan from North American Savings Bank, according to court records.

Employees also said that they were still owed pay for five weeks of work when Dock's closed, and they alleged that the owner hadn't paid state and federal withholding taxes since September 2009.