Cannon Provides Loan to Cloister Inn Amid Indefinite Closure
1 report, 1 independent
Updated Oct 7
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
Cloister Inn secured a loan from Cannon on October 7, 2026. The eating club is currently indefinitely closed for a major renovation, called “Re-Imagine Cloister,” and has been operating under closure since June 2025. The club has reported losses for several years.
Why it matters
Cloister Inn reported a deficit of $47,364 for the 2024–25 fiscal year, and its net assets fell by almost 74 percent compared to the previous fiscal year. The club's assets barely exceeded its liabilities by the end of the year.
Who's involved
- CannonProvided a loan to Cloister Inn
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- CannonSpeculative
Cannon might face increased credit risk due to the club's indefinite closure and the collateralized loan.
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The entities involved
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Cannon
division of ITT Corporation