Judge Says Hard Rock Park Can Borrow, Spend
September 30, 2008, 15 years ago
According to AP, a bankruptcy judge in Delaware says Hard Rock Park in Myrtle Beach can borrow some money and pay workers.
The Sun News of Myrtle Beach reported the judge on Monday said the theme park that opened in April and closed earlier this month can borrow $1 million.
Attendance at the $400 million park fell far below expectations but it hopes to reopen in 2009.
Judge Kevin Carey said the park can pay certain expenses, such as wages and payroll-related costs of up to $247,000. His order also allows the park to pay up to $40,000 for goods and services.
Carey also said the park could decide what to do about honoring, voiding or refunding annual passholders.
HRP Myrtle Beach Holdings filed for Chapter 11 bankruptcy protection earlier this month. Another hearing is scheduled Oct. 22.
