Creditor looking to buy bankrupt Grand Soleil, casino property
by Associated Press
Published: April 2,2012
NATCHEZ — Bankruptcy court filings show that a creditor is buying the Grand Soleil Hotel and proposed casino property for about $5.6 million.
The Natchez Democrat reports RJB Financing, LLC will pay with about $4.1 million cash and a $1.5 million letter of credit.
In May 2011, businesses reportedly owed a total of $1.6 million petitioned to force Grand Soleil into involuntary Chapter 7 bankruptcy. The resort began voluntary Chapter 11 reorganization in bankruptcy court in August.
Grand Soleil’s bankruptcy proceedings followed recent years of financial woes and a failed attempt to develop a casino.
Rick Lindsley, CFOof Grand Soleil, LLC, says that for now, the hotel will operate as usual and will soon be renamed Vue Hotel and Restaurant.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Fervor grows for Tuscaloosa Marine Shale
- Click Boutique revives Hattiesburg downtown retail district
- Mississippi Power CEO's departure due to withholding Kemper information from regulators
- Hosemann revels in victory over Court's redistricting ruling
- LNG facility hoping to begin exporting natural gas
- Nullification and interposition
- Tenn. company makes unspecified offer to lease hospital
- Airport's food irradiation business could create new jobs
- Doctor's murder-for-hire case postponed, mental evaluation pending