The owners of The Inn at the Black Olive filed for bankruptcy, canceling this morning's scheduled auction of the luxury boutique hotel.
The Spiliadis family, which owns the Inn near Harbor East, is working to keep the property, which also includes the rooftop Olive Room, pictured, one of our 50 "Best Restaurants," and the Agora Gourmet Market.
The bankruptcy buys them time.
"While I breathe, I hope," said Stelios Spiliadis, who oversees the 12-room Inn with his wife, Pauline, and his son, Demitris.
The family also runs the popular Black Olive restaurant, number five on our "Best Restaurants" list, in Fells Point.
The announcement of the cancellation was made this morning in the Inn's lobby.
Like his dad, Dimitris also breathed a sigh of relief afterward. "We're going to beat this," he said. "We're going to do this."