GT Real Estate Holdings LLC files for Bankruptcy, officially ending Panthers construction on HQ project

The Charlotte Observer is reporting that GT Real Estate Holdings, LLC, the company David Tepper created specifically for the Panthers headquarters project in Rock Hill, announced last night that it has filed for Chapter 11 bankruptcy in Delaware. The Observer says this filing, officially ends the Panthers’ construction of their headquarters project, and comes shortly after it ended its agreement with the City of Rock Hill over the 240-acre property. The company says the Panthers, Charlotte FC, and Tepper Sports & Entertainment will be unaffected by the bankruptcy filing and those organizations will operate uninterrupted. GTRE says it is taking this action to ensure legitimate claims from the project are processed as fairly and expeditiously as possible under a court-supervised process, and to achieve the project’s orderly and safe wind-down.” In 2020 the Panthers started building a 700,000-square-foot state-of-the-art headquarters on the I-77 land in Rock Hill. When completed, it would have been the largest such facility in the NFL and was envisioned to be an entertainment venue for sports, corporate events and concerts.