Nov
16

Hard Rock Park Sets Price Floor at $35 Million

By
Theme attraction’s future unsure as bids are invited

November 15, 2008

By Lisa Fleisher – The Sun News

Got $3.5 million?

That’s enough for a minimum down payment on the $400 million Hard Rock Park, which will go up for auction on Dec. 15, according to court documents filed this week.

The 55-acre park, which opened in April and closed in Chapter 11 bankruptcy in September, is looking to sell its assets – either in whole or part by part – and is accepting bids until Dec. 12.

A spokesman for Hard Rock Park did not return requests for comment.

Whether any future owners will stick with the Hard Rock theme is still unclear.

The park licensed the brand name from the cafe company for at least $2.5 million a year, according to court documents filed by creditor Deutsche Bank Trust Company Americas. But Hard Rock International has not yet determined whether it will allow the agreement to be renewed if the park changes hands, court documents show.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.myrtlebeachonline.com/business/story/670998.html
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