Although Greenhaw’s Fine Men’s Wear at 10301 N. Rodney Parham Road in Little Rock shuttered last summer after 45 years in business, it remains embroiled in foreclosure litigation.
Arvest Bank has filed to foreclose on a $973,400 Small Business Administration-backed loan secured by 2809 Highline Drive in Sherwood, a residential lot. The bank claims it is owed by the defunct business and its former owner, George Gregory Herr.
Originally, the loan was secured by a home at 65 Kingspark Road in Little Rock, but a debt modification agreement signed in 2017 replaced that home with the lot in Sherwood as the securing entity.
Arvest wants the Sherwood lot to be sold at a public auction and to be paid ahead of several other lienholders: Stephanie Herr, the Carroll Mortgage Group Inc. and Bayview Loan Services LLC.
Whispers previously wrote about the 2011 sale of Greenhaw’s to Herr, an employee who had worked there for more than 30 years at that time. He bought it from Steve Greenhaw.
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