Posted Thursday, July 30, 2015 8:51 AM | Contributed by VitaminsAndGravy
A formal bankruptcy reorganization plan for Conneaut Lake Park is expected to be filed by Friday with U.S. Bankruptcy Court. Trustees, the nonprofit corporation that oversees operations of the amusement park, filed for federal Chapter 11 bankruptcy protection in December to reorganize its debts which total about $3.8 million.
Read more from The Meadville Tribune.
I told them not to bury this park in the Pet Sematary....the ground is sour. Sometimes dead is better.
Just think, they could avoid filing Chapter 11 (again) if only Pepsi Refresh was still around. Why haven't they hit up GoFundMe?
I wonder if they can get volunteers to help them paint $3.8M worth of other people's houses.
Ideal Bankruptcy Plan:
1. Close park
2. Sell off assets to repay debts
3. Stop trying to open said park
I guess the tv special didn't help.
OMG; someone please stick a fork in this place once and for all so it stops clogging my news feed...
As an amusement park enthusiast, it's difficult to think about the closing of any park, but it hasn't made much sense to keep Conneaut open for a long time now. It's been running on fumes.
FWIW, Lenny Adams might be the best machinist, mechanic, and wooden coaster tracker out there. It doesn't mean he can print money, and I don't think Conneaut is making enough to survive even if all prior debt was forgiven.
At least Greece, in theory, has the authority to tax its citizens...Last edited by rollergator, Friday, July 31, 2015 12:22 PM
Never Been but seems like a place with plenty of rides that would fit nicely within Knoebels lineup.
It was part of Coaster Con a few years back. The park was .... hmmm. Back in its day, it must have been a great place to visit. When I was there, it seemed a rather ramshackle place.
At the insistence of one of my traveling companions, we stayed at the Hotel there at the park. Not impressed. No A/C, windows in rooms were nailed shut, and the (apparently) one employee working the overnight shift seemed content to spend the night drinking beer.
It appears that CLP posted a video for their bankruptcy plan.
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