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.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Family launches Billups Coffee with headquarters in Oxford
- Chris McDaniel responds to radio show audio clip
- ‘Just the beginning’ — Venture Technologies merging, acquiring companies
- Man indicted, accused of bankruptcy fraud
- Grenada native Donna Tartt wins Pulitzer Prize for 'The Goldfinch'
- Chaney drops lawsuit against National Flood Insurance Program
- Fight between county, insurer over courthouse fire continues
- Judge to rule on release of Kemper power plant data