Conneaut Lake Park moves to file Bankruptcy to avoid Sheriffs Sale.
In a surprise move, the new Board of Trustee's at Conneaut Lake Park are fighting to keep the doors open in light of the county moving to liquidate the park in hopes of a quick profit.
Today the park hired an attorney to files for Chapter 11 Bankruptcy with the State of Pennsylvania in order to avoid Crawford County for pushing the park into closing and dividing the bones for quick money by Sheriff's Sale. With the move, they Board of Trustees and The Economic Progress Alliance of Crawford County hope to stop the sale and revitalize, redevelop and expand the park for the future good of both Conneaut Lake Park and the County as a whole.
Although I must admit, I'm getting confused as the reported numbers of Conneaut Lake Park's 'debt' keep changing. It appears to be around $910,00 due in back-taxes to the area schools and county but another number of $2.5 million has shown up now, simply listed as 'creditors'. Perhaps WTAE is making up numbers or using a different source than those of the Meadville Tribune.
Either way, we're glad to see this new board is actually fighting for their park!