Freestyle Music Park misses payment deadline
Thu, 01 Apr 2010 20:04:37 GMT —
The owners of a $400 million amusement park on South Carolina's coast will miss a court-ordered deadline to make a debt payment.
Attorney David Slough of the firm Nexsen Pruet said the owners of Freestyle Music Park will be unable to make a $570,000 payment that was inherited when the former Hard Rock Park was bought out of bankruptcy court.
The missed payment means a judgment will be entered against the owners, but the park's future is unclear.
Slough said the park will not open this year unless the owners can find an investor. Freestyle opened for the summer last year.
The park opened in 2008 as Hard Rock Park, but struggled in the poor economy and the original owners had to file for bankruptcy several months later.