Trustees of Conneaut Lake Park are seeking federal bankruptcy court permission to auction off the amusement park for at least $1.2 million. Trustees are seeking to sell the amusement park’s assets via a public auction at U.S. Bankruptcy Court for Western Pennsylvania. A court-held public auction may happen as soon as March, according to court documents.
Read more from The Meadville Tribune.
To paraphrase Michael Corleone from The Godfather Pt 2:
Conneaut Lake Park has been dying of the same heart attack for the last twenty years.
The Trustees posted an announcement on their Facebook page on Friday that they had received a surprise offer from an entity which wants to buy, operate, and invest in the park. That entity has made a bid for all of the park assets, but because of the bankruptcy any sale has to happen through the bankruptcy auction process, so that any other interested parties may offer a competing bid. All bids will be for the entire concern, though, the park won't be parted out.
Depending on who this bidder turns out to be, this could be either great news, finally getting the park out of bankruptcy, or it could be...something else.
--Dave Althoff, Jr.
/X\ _ *** Respect rides. They do not respect you. ***
/XXX\ /X\ /X\_ _ /X\__ _ _ _____
/XXXXX\ /XXX\ /XXXX\_ /X\ /XXXXX\ /X\ /X\ /XXXXX
The bidder is named in the story: Keldon Holdings LLC.
Awww...I was hoping it was the "Save the Big Dipper" people.
Hobbes: "What's the point of attaching a number to everything you do?"
Calvin: "If your numbers go up, it means you're having more fun."
Maybe Dick Kinzel is looking for something to do in retirement and plans to buy it, operate it for four seasons, and then close it.
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