Call: 856.997.2546Schedule Free Consultation
Menu ☰

Popular New Jersey Attraction Filing for Bankruptcy

“I would personally like to thank Mr. Spiller for what he has done for me. He saved my house that my children & I have lived in for the last 22 years from foreclosure and I'm sure he would do for you as he has done for me.”
Popular New Jersey Attraction Filing for Bankruptcy

Popular New Jersey Attraction Filing for Bankruptcy

Mountain Creek, a popular attraction for many in New Jersey recently announced that they would be filing for bankruptcy. The company is trying to get a Chapter 11 bankruptcy to help them restructure their debt while remaining open. The attraction has both a ski resort in the winter and a water park for the summer months. However, it’s not a yearlong resort, which can impact their bottom line.

The reason behind this filing is related to the debt that was inherited by the new owners from the former owners. The biggest creditor listed is the utilities at 20 million dollars because of the potential use of the sewer system.

The sole owners are looking to build this resort up to a full resort, rather than a seasonal resort. They are hoping to unlock the full potential of the venue. They are wanting to add new hotels, new attractions, and expand the residential homes that are currently in the area. In order to reach this objective, the restructuring of debt needs to be accomplished.

The good news for employees is that this move will not result in layoffs, as the resort plans to go through the summer operations as usual. In fact, it could have a promising future in adding jobs to the area through the construction process including the opening of a hotel and other attractions.

Bankruptcy is often a last resort for people and businesses, but it was written into law to give those who need it a second chance at life. If you’re considering bankruptcy in your personal life or at your business, an experienced lawyer can be very beneficial to have on your side. Contact the law office of Brenner, Brenner & Spiller now to learn about filing for bankruptcy.

Request Your Free Consultation


Our Office Locations

 

MAIN OFFICE

175 Richey Avenue
Collingswood, NJ 08107

Phone: 856-997-2546

Fax: 856-858-4371

MAP & Directions

MT. HOLLY

33 Grant Street
Mt. Holly, NJ 08060

Phone: 609-303-5060

Fax: 856-858-4371

MAP & Directions

VINELAND

1063 E Landis Avenue
Vineland, NJ 08360

Phone: 856-406-2332

Fax: 856-858-4371

MAP & Directions

FREEHOLD

57 W. Main St.
Freehold, NJ 07728

Phone: 732-338-0659

Fax: 856-858-4371

MAP & Directions