Ozark Camera Center sold in foreclosure

by Karen E. Culp

SBJ Staff

The assets of Ozark Camera Center were sold at 2 p.m. Nov. 12 in a foreclosure sale to Eugene and Virginia Anderson. Ozark Camera Center's owner, MK2C LLC, defaulted on three promissory notes, resulting in the foreclosure sale.

The Andersons were the lenders to MK2C.

MK2C did not file for bankruptcy. The company was waiting until after the sale to determine what it would do next, said company principal Kevin Chittenden, who owned MK2C LLC along with Michael Chittenden.

A separate company also owned by the Chittendens, ABM Systems, which also occupied space in the Ozark Camera building at 210 E. Walnut, was to move to the Mace Gallery on South Avenue as of Nov. 16, Kevin Chittenden said. ABM is a computer and secretarial service business separate from Ozark Camera, but with the Chittenden family as owners, Chitttenden said.

Robert Zimmerman, vice president of Husch Trustee, the trustee in the Ozark Camera sale, said Nov. 11 that the sale was going ahead Nov. 12. The property, inventory, equipment and real estate of Ozark Camera were sold.

The Andersons purchased the real and first floor personal property for $300,000, and the real property, fixtures and equipment for $255,000. They were represented at the sale by attorney Bill Hart.

MK2C was in default on three promissory notes, one for $125,600, one for $425,000, and one for $48,000.

The lenders on the notes were Eugene and Virginia Anderson, who sold the camera center to MK2C and financed the sale. MK2C had owned the center since July of 1995, and Ozark Camera's last day of operation under the limited liability corporation's ownership was Nov. 6.

Ozark Camera was a 52-year-old business. MK2C employed eight people at the business before closing Nov. 6.[[In-content Ad]]