MONTICELLO, Ind. (Inside INdiana Business) – The owner of Indiana Beach Amusement Resort in Monticello has filed for Chapter 11 bankruptcy with plans to sell the attraction. California-based Apex Parks Group tells our partners at The Times of Northwest Indiana the filing will allow it to restructure debt and enter into a purchase agreement.
Apex Chief Executive Officer John Fitzgerald says the actions will help better position the company for the future and allow it to continue serving guests, employees and business partners, according to the publication.
“After an exhaustive examination of all options, we’ve determined that a sale of the company through the Chapter 11 process is the best path forward to enable Apex to focus on future operational transformation and growth,” said Fitzgerald.
Apex says all of its facilities are temporarily closed due to the cornonavirus pandemic. The company operates 10 family entertainment centers and two water parks in California, Florida and New Jersey.
“We look forward to reopening the parks so that we can continue to provide exceptional and memorable guest experiences for our communities,” Fitzgerald said. “I also want to extend our deepest gratitude to our team members. We recognize this is a challenging time on numerous fronts and look forward to us all returning to work.”
According to The Times, the company will honor season passes at its operating parks.
Apex Parks Group, Monticello and White County officials have been working to secure the sale of the 376-acre park that includes roller coasters, a waterpark, a boardwalk and a sand beach.