Posted Wednesday, March 18, 2009 11:22 AM | Contributed by Jeff
The dire state of finances at Maggie Valley Ghost Town in the Sky led the amusement park to file for Chapter 11 bankruptcy March 10. The filing will allow the partners of Ghost Town LLC to structure a plan to try and pay back creditors, and protect the company from potential lawsuits in the process. Sluggish ticket sales last season due to surging gas prices, coupled with the high costs of rehabilitating the park’s 48-year-old infrastructure, dealt a serious blow to Ghost Town’s anticipated revenues and debts mounted.
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