Belmont Park files for bankruptcy in response to 700% rent increase

Posted Friday, November 5, 2010 12:23 PM | Contributed by Dutchman

Belmont Park has made a plea on its Web site calling for action by customers to write San Diego officials over a rent increase of 700%. The park says it has filed for Chapter 11 bankruptcy and will "defend its interpretation of the lease."

Read more from the official Belmont Park site.

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Friday, November 5, 2010 12:29 PM
Jason Hammond's avatar

Holy Crap!


843 Coasters, 34 States, 7 Countries
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Friday, November 5, 2010 12:46 PM
kpjb's avatar

Damn... that sucks.


Hi

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Friday, November 5, 2010 2:45 PM
Tekwardo's avatar

That's INSANE! I hope they win.


cebeavers.tumblr.com

Don't cry because it's over, smile because it happened.

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Friday, November 5, 2010 3:02 PM
James Whitmore's avatar

Seeing the city officials, addresses, phone numbers and email addresses all listed on the park's homepage makes me smile.


jameswhitmore.net

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Friday, November 5, 2010 3:58 PM
staticman00's avatar

If they mess with the Dipper, there will be hell to pay!!


And by hell, I mean a stern letter full of frowny faces.


Riding is freedom.
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Friday, November 5, 2010 4:10 PM
rollergator's avatar

Posting by Belmont to their FB page, 2:08pm today: "the San Diego Coaster Company, operators of the Giant Dipper Roller Coaster and rides at the park, are not impacted during the time of uncertainty."

Last edited by rollergator, Friday, November 5, 2010 4:10 PM

You still have Zoidberg.... You ALL have Zoidberg! (V) (;,,;) (V)

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Friday, November 5, 2010 5:01 PM
Vater's avatar

staticman00 said:
And by hell, I mean a stern letter full of frowny faces.

That's still a hell (:)) of a lot more effective than an online petition.

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Friday, November 5, 2010 5:17 PM

So what was the rent? $1, and now $7? Or was it $1 million, and now $7 million?

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Friday, November 5, 2010 5:22 PM
Jeff's avatar

Well if they feel they have to declare Chapter 11, let's go with a larger number.


Jeff - Webmaster/Editor - CoasterBuzz.com - My Blog - Twitter - Video

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Friday, November 5, 2010 9:46 PM

All, I can say is WOW! I liked Belmont when I visited a few years back. Hope everything turns out good for them.

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Friday, November 5, 2010 11:45 PM
staticman00's avatar

rollergator said:
Posting by Belmont to their FB page, 2:08pm today: "the San Diego Coaster Company, operators of the Giant Dipper Roller Coaster and rides at the park, are not impacted during the time of uncertainty."

Well, then. I am no longer upset or even slightly interested in this story.


Riding is freedom.
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Saturday, November 6, 2010 10:20 AM

If the city decides to raze the property (which has been considered several times before) they will definitely be impacted. Even if they try to find another leaseholder, I can't imagine anyone doing it for what they are trying to get for it. The current master leaseholder took over after the original (after the refurbishment of the property) couldn't make it. Lochtefeld has a history in the waterpark industry, being one of the partners that built Raging Waters. SD Coaster is the largest sub lease holder. It is very much a going concern now, which is probably why it's a target now.

The city of San Diego is in deep financial trouble, largely due to some behind closed doors shenanigens involving the employee pension fund, which apparently they can't get out of now. With income down from fewer taxes being collected they are grabbing at straws trying to pay the bills, resorting to the curtailing of services and browning out fire and lifeguard stations and reducing the number of police officers on staff, among other things

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Saturday, November 6, 2010 8:17 PM

Sounds like pretty much every other city in the great U.S. of A.

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Saturday, November 6, 2010 10:00 PM

Geez. Why don't they just dump EVERY small/family/boardwalk park! Are the local governments trying to make the world full of only Six Flags And Cedar Fair? lol


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Sunday, November 7, 2010 11:55 AM

Any business operating on land that belongs to the city of San Diego (and there is quite a number of them)is going to have to deal with this same issue eventually, especially ones that are doing reasonably well. As far as Belmont, there are still people who want to bulldoze it and turn it into a regular park, regardless what it contributes to the city coffers.

Last edited by Dutchman, Sunday, November 7, 2010 11:55 AM
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Sunday, November 7, 2010 6:14 PM
Raven-Phile's avatar

Michael W. Moss said:
Geez. Why don't they just dump EVERY small/family/boardwalk park! Are the local governments trying to make the world full of only Six Flags And Cedar Fair? lol

U mad, bro?


R.I.P LeRoi Moore 9/7/61 - 8/19/2008
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Sunday, November 7, 2010 8:12 PM

Raven-Phile said:

Michael W. Moss said:
Geez. Why don't they just dump EVERY small/family/boardwalk park! Are the local governments trying to make the world full of only Six Flags And Cedar Fair? lol

U mad, bro?

A little bit. I hate to see these type of parks go down. As I have only gotten into even going to amusement parks a little over a decade ago, I find it kind of sad that there are simply going to be ones that I will never get to which is harder to swallow when I lose another opportunity to visit a more classic/boardwalk style park :(


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Monday, November 8, 2010 7:28 AM
Raven-Phile's avatar

Yeah, I understand. Unfortunately, times do change, and not everything can keep up with them. It happens, and it sucks but what are you gonna do?


R.I.P LeRoi Moore 9/7/61 - 8/19/2008
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Thursday, November 11, 2010 2:10 PM

Okay, I have to correct my previous statement about San Diego Coaster Co. subleasing from Belmont. Apparently they do lease directly from the city.

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