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Elmwood Park's Parkway Lanes Could Avoid Bankruptcy With Resale

Parkway Lanes in Elmwood Park could avoid bankruptcy with a sale to the co-founder of E! Entertainment Television.
Parkway Lanes in Elmwood Park could avoid bankruptcy with a sale to the co-founder of E! Entertainment Television. Photo Credit: Facebook

ELMWOOD PARK, N.J. — Elmwood Park bowling alley Parkway Lanes may become a self-storage facility in 2016, according to a report in northjersey.com

MCD Sports,  Parkway Lanes owner, has been given an opportunity to avoid bankruptcy, thanks to a Jersey City entrepreneur and co-founder of E! Entertainment Television.

The 56-year-old bowling alley's bankruptcy proposal states that after the lease is up in in March 2016, they will purchase it for $3 million, and then sell it to The Alan Mruvka Co., the website reports

The bankruptcy papers do not say what will happen to the property after the sale, however, the lawyer who represents building owner JCB Realty, said he has heard that Mruvka wants to use the property for a self-storage facility, says NorthJersey.com.

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