Bankruptcy Mulled To Stop Conneaut Lake Park Sale
MEADVILLE, Pa. (AP) – County officials have authorized a sheriff’s sale of a historic 122-year-old amusement park in northwestern Pennsylvania, but park trustees may file for bankruptcy to hold off the sale.
The Erie-Times News reports that commissioners in Crawford County voted Friday to authorize the sale of Conneaut Lake Park.
But Mark Turner, executive director of the Economic Progress Alliance of Crawford County, says park trustees will consider filing for Chapter 11 bankruptcy to stop the sale and freeze assets. He said the redevelopment agency could then proceed with plans to revitalize and expand the park.
Officials say the park owes more than $910,000 in back taxes. State officials say insurance was inadequate when fires burned the park’s Dreamland Ballroom in 2008 and its Beach Club a year ago.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)