PARC says it hasn't defaulted on CNL leases

Posted | Contributed by Jeff

Randal H. Drew, CEO of PARC Management, denies that his company ever defaulted on any of its obligations to CNL Lifestyles Properties Inc., the owner of Darien Lake Theme Park Resort. CNL last week terminated its leases with PARC Management on 18 attractions, including Darien Lake. In a Nov. 17 filing with the U.S. Securities and Exchange Commission, CNL claimed that PARC Management defaulted in October on lease and loan obligations.

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