Not been a good week for the amusement industry.
Freestyle Music Park is closing its business offices and laying off its off-season staff until it can make final negotiations with potential investors, officials announced this afternoon.
“While park management continues to pursue negotiations with potential investors, we have limited funds and need to use those assets toward the goal of bringing new investors to the park,” said Steve Baker, general manager of Freestyle Music Park, in a statement. “We fully anticipate one of these deals will be satisfactory to the current owners.
"It’s a tedious process and is just taking much longer to come to final agreements than expected. Deals on the table are contingent upon the park opening this season," he said. "With the time difference in Russia, we will be working around the clock to make these deals happen in the coming days. Not weeks, days.”
The park has been operating with a limited staff throughout the offseason, but the remaining staff will be laid off until an investment agreement is finalized, Baker said.
Until that time, the board of directors and executive management will continue to meet with potential investment groups and communicate with the current owners to finalize the agreement, he said.
Once an agreement is reached, the management team will bring employees back to work, create a plan for vendor repayment and announce the plans for the 2010 season.
“We’ve kept all efforts alive to find investors. Our efforts have been sincere. We’ve maintained the status quo in order to find new investors,” Baker said. “We still take our financial obligations seriously and will do everything we can do to resolve them. There’s a great future for this park. It just needs a chance and hasn’t had that yet.”
Many businesses, entertainers and vendors are still waiting on payment from the park's 2009 debut season. Nine lawsuits and more than a dozen mechanic's liens have been filed against the park owners for unpaid services and supplies since July.
FPI MBE bought the former Hard Rock Park out of bankruptcy last year for $25 million. It re-themed the 55-acre park, created a children's section and added new rides before it opened Memorial Day weekend.
Freestyle Music Park closed its debut season on Sept. 23. Officials originally said it was tentatively scheduled to open March 11, but it may take longer, pending the investment transaction, said park spokeswoman Michelle Cantey.
Glad I got a chance to visit the park at least once before it closed for good (?)
That makes two parks I visited last summer that have closed. hmmm
