Granite Bay's swanky Quarry Ponds center has filed for Chapter 11 reorganization – a step, its owner says, toward getting back in the black.

"We now have a fighting chance," owner and developer Lisa Powers says in a letter sent to Quarry Ponds' tenants.

She tells us it was "not in my nature" to make the Chapter 11 filing, which listed debts of $19.2 million.

But she says she was forced to take that action when lenders filed a notice of default on her loan and then set up "unrealistic" repayment demands.

"I was being bullied, basically," she says.

Powers opened the lavishly designed, horseshoe-shaped center in early 2007, on a remote stretch of Douglas Boulevard. Original tenants included upscale restaurants, gourmet grocers, a day spa, dry cleaner and a smattering of retailers.

The economic downturn hit soon after the opening, causing her to "re-price" rents to retain tenants.

The drop in revenues put her behind in payments to her real estate lender – and led to a September default notice, the first step toward foreclosure.

Now, though, Powers says she's confident she can work out a repayment schedule and emerge from Chapter 11 in three to nine months.

She's encouraged, too, by recent leasing activity that has taken Quarry Ponds from 65 percent to 80 percent occupancy. New tenants include a wedding consulting firm called Engaged, the Sarkisian Kabob restaurant and a wine bar operated by Roseville's Capitol Cellars.

Powers describes herself as "fiercely protective" of her tenants.

"We weren't the ones who broke the economy," she says, "and for us to lose everything is not right."

Branching out

Speaking of Powers, the developer has taken an unusual step to keep one of her popular tenants in place.

She's become owner of Quarry Ponds' Vande Rose Farms Meat & Fish shop.

The "artisan" butcher business was doing well, but its parent company in Iowa ran into troubles and its officials informed Powers they intended to close the Granite Bay shop.

Powers ended up forgiving the company's remaining lease obligations in exchange for all assets of the retail business.

Now, she says, "I own a meat shop. Just what every woman wants."

S-wheat deal?

California wheat growers may get a new market for their crop: Taiwan.

That country's Flour Mills Association last month staged its annual visit to the U.S. to line up potential grain imports.

For the first time, the group visited Sacramento and met with local wheat growers.

The result: a "joint communique" expressing interest in making deals, says association executive director Robert Falconer.

No purchase commitments were made. As Falconer puts it, "there's no meat to the document. No wheat either."

But it's a first step.

Friendly rivalry

They're a competitive bunch at the Numonyx Inc. computer chip plant in Folsom. Even when it comes to charitable giving.

Over the past month, employees divided themselves into four teams, then competed to see which group could buy the most new clothing and outdoor gear for Maryhouse, a daytime shelter for homeless women and children.

The prize for the winning team? "Just bragging rights," says company brand manager Nicki Heupel.

Of course, she says, the real winners were the recipients of hundreds of clothing items, sleeping bags, tarps and personal items.

The goods were delivered last week – in four truckloads.

Reach Bob Shallit at (916) 321-1049. Back columns: www.sacbee.com/shallit.