Robbie Perkins, the first-term mayor of Greensboro, filed for Chapter 7 bankruptcy last Friday in Federal Court. The mayor says his total debt is between $10.6 and $10.8 million. The financial trouble is partly personal and largely professional. Perkins owes several million dollars to banks for multiple property deals approximately $644,000 on a home mortgage and nearly $200,000 to the IRS.
“The combination of getting divorced and not seeing the ability to dig out of the real estate hole caused me to file for bankruptcy,” Perkins said.
The mayor says bankruptcy protection will help him to pay the money he owes in taxes and allow him to move forward. On the horizon is a re-election campaign this fall. Perkins has indicated he will run again and he could face a challenger. Perkins says these financial issues have had no affect on his ability to serve as mayor.
“I don’t think the job I’ve done as mayor has been impacted at all by this personal financial piece, or the divorce. I think the work that city council, city of Greensboro and our staff has done has been outstanding and I think I’ve played a key role in that,” Perkins said.
Late last year it was revealed Robbie Perkins was in danger of having his home foreclosed on.