The Sweetwater Flea Market in Sweetwater, Tenn., has been bought by Joseph E. Proctor from Trey Boggs. “He was the previous owner, and he took the market back over,” says manager Angela McNabb, speaking about Proctor. “He loved the flea market. He loved the atmosphere, and he loved the market.”
McNabb, who has managed the market for six years, is enthusiastic about the change. “When he had the flea market before, it was at the top of its peak. And now we’re excited because we believe he will do it again.”
She said, however, that there will be no big changes initially. Hours and days of operation remain unchanged.
Photo credit, with thanks: The Daily Post-Athenian.
July 19 Update: The Advocate & Democrat adds some financial detail to this story:
The flea market was sold last Friday after a restraining order was lifted that morning by the McMinn County Chancery Court. The property reverted back to the previous owners, Joseph E. and Shirley I. Proctor, of Chattanooga, according to a deed that was registered in McMinn County on Friday. The Proctors paid $2 million. … The Proctors had backed a $4.9 million loan to Arthur and Bryan P. Boggs in 2005, court documents show. W. Richard McClellion provided collateral for the sale. The loan was in default, according to the deed that was recorded last Friday. The Boggs brothers obtained a Chancery Court order to stop the forced sale, which had been set for July 2. But the Chancery Court lifted the order and allowed the sale to happen. The Boggs family … previously issued a press release denying they had defaulted on the loan.