WORCESTER 508-471-3018
Metro West 508-709-0024

Sport complex files for Chapter 11 bankruptcy

A sport complex in another state recently determined that it needed to take drastic action to address its financial situation. For this reason, the complex has decided to file for Chapter 11 bankruptcy. This type of bankruptcy protection is available for businesses in Massachusetts and elsewhere that are finding it difficult to stay afloat financially.

In the case of the sport complex, the first phase of the complex was completed back in 2014. Since then, it has grown to feature facilities housing 40 sports. These sports include wakeboarding, beach volleyball, basketball, football, lacrosse, soccer and baseball. In addition, multiple hotels and restaurants have opened their doors nearby.

According to the complex's former chief executive officer, who is now a consultant for the complex, the business decided to restructure its debt after it got some new investors. In other words, the complex is trying to reorganize with its new money. In its bankruptcy filing, the company listed assets totaling less than half a million dollars, whereas its liabilities exceeded $50 million. The goal of complex leaders is to make the business financially stable long term.

Sometimes, filing for Chapter 11 bankruptcy protection is the best move a company can make to improve its financial situation. However, the filing process can be confusing and overwhelming due to the many requirements and steps involved. An attorney in Massachusetts can guide business owners through the filing process to make sure that they complete the process correctly. The attorney's ultimate goal is to ensure that the business owners' best interests are protected in the long run.

No Comments

Leave a comment
Comment Information
Email Our Team

Contact Us Today To Learn More

The skilled attorneys at SederLaw stand ready to handle even your most difficult legal issues. Turn to us for skilled representation to help you accomplish your legal goals.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

An Impressive Track Record
Of Achievement In The Law


Worcester Office
339 Main Street
Suite 300
Burnside Building
Worcester, MA 01608

Phone: 508-709-0024
Phone: 508-471-3018
Fax: 508-831-0955
Map & Directions

Metro West Office
1900 West Park Drive
Suite 280
Westborough, MA 01581

Phone: 508-471-3018
Fax: 508-831-0955
Map & Directions