Jordan Creek Preparatory School and Private Membership Club Inc., launched last year by Des Moines attorney Eric Parrish to provide child care by day and night for time-stressed parents, filed to reorganize its finances under federal bankruptcy laws.
In the filing Monday, the business claimed $202,158 in debts to unsecured creditors. The majority of that amount, $162,000 in rent and maintenance fees at 720 S. 68th St. in West Des Moines, is the target of a lawsuit pending in Dallas County District Court. The amount of unpaid rent is in dispute, according to the bankruptcy filing.
Peak 8 Development V LLC says in that lawsuit that Parrish signed a personal guarantee for the lease payments.
The bankruptcy case blocks creditors from pursuing claims against the business, which operates under the name Jack's Bear Childhood Enrichment Studio, but does not prohibit Peak 8 from pursing its claim against Parrish.
Christopher Langpaul, the attorney for Peak 8, said his client has a "valid and enforceable claim" that it intends to pursue against Parrish. James Thornton, Parrish's attorney in the bankruptcy case, said the child-care center remains open for business.
Meanwhile, Clarke County State Bank has received the deed to the property through a voluntary foreclosure with Peak 8. Langpaul said the foreclosure was the result of delinquent rent payments from the child care.