CONNEAUT LAKE, Pa. (AP) – A federal chapter courtroom choose has permitted the sale of a century-old amusement park in northwestern Pennsylvania.
Pittsburgh-based Decide Jeffrey Deller on Tuesday permitted the sale of Conneaut Lake Park to Keldon Holdings LLC for a money worth of $ 1.2 million.
An public sale had been scheduled, however though greater than 10 events expressed curiosity, solely Keldon submitted a bid for the entire park’s property, mentioned lawyer Jeanne Lofgren, representing the park’s board of administrators. The park didn’t open for the 2020 season and due to this lack of income, it was not scheduled to open for the 2021 season, she mentioned.
The sale contains the amusement park and its rides, together with the historic Blue Streak curler coaster, in addition to the water park, seashore, Conneaut lodge, campground, and active-on-asset leases.
Conneaut Lake Park, regardless of some closures throughout years of economic issue, has been working as an amusement park since 1892 when it opened as an exhibition middle.
Jim Becker, director of the County Financial Development Alliance, which manages the park, mentioned the brand new proprietor intends to proceed investing and enhancing the park. He mentioned the timing of the sale is to permit time for a brand new proprietor to open for the upcoming summer time season.
“All we now have been led to consider is that the park will function as it’s. He plans to take advantage of it as an ongoing concern, ”Becker instructed Erie Instances-Information.
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