Posted Thursday, October 22, 2009 9:47 AM | Contributed by Lord Gonchar
Zamperla filed suit Oct. 15 seeing collections of $100,000. According to court documents, Zamperla claims FPI purchased four rides totaling $765,000, but to date had only paid $665,000. Zamperla is asking for judgment including $100,000, plus interest, costs and fees.
Read more from WMBF/Myrtle Beach.
I believe as long as this park continues to add something each year it will eventually catch on and they will be able to get their costs to meet their revenue if not this year than maybe next. At this point they have to know what to expect attendance wise and what their market is. If they don't add something new with new investors than they may be done for.
You can't add anything if you have a reputation for not paying your bills.
I presume there wasn't any pre-existing debt because of the bankrupsy. So they incurred more after the purchase. I just wonder if they looked at the previous year's revinue and what their expectations were for this year. They'd probably have been better off having Madison avenue wondering where the reemaining 100Gs were.Last edited by janfrederick, Friday, October 23, 2009 4:05 PM
I have been there and nothing to write home about. I say sell to Medieval Times which is right next door and turn it into pasture land for their horses.
I find this just a little baffeling...
The current owners got the park for a complete steal. It costs less than the cost of of Kingda Ka to purchase an entire park that's already populated with a theme & rides...
...yet they couldn't fulfill any debts to new investments, especially some that are under a million?
...somehow, after year-2 if the park hasn't fulfilled their attendance goals, I don't think the next couple years are going to look too bright. Usually your freshman & sophmore years are one of your brightest because everything's... 'new'.
Did they maybe stretch themselves too thin by purchasing the park in the first place? Sure, they got it for next to nothing when compared to the original cost of the place, but perhaps 25 mil was all they could handle, and with the piss-poor attendance and lost revenue this year (did they really need to add those kiddie rides this season?), they can't pay the bills.
Sounds to me like they bought a park that was out of their price range if they didn't account for a loss this season and can't afford to pay their debt.
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