Peek 'n' Peak to be Sold at Auction
Peek'n Peak Resort and Spa will be sold at a public auction in U.S. Bankruptcy Court in Cleveland by September 1, 2011, as part of an agreement reached Tuesday, according to a news release sent to WESB and The HERO by the County of Chautauqua Industrial Development Agency.
Richard Dixon, Chief Financial Officer of the Chautauqua County Industrial Development Agency, and Chair of the Official Committee of Unsecured Creditors, hailed this agreement.
“This agreement is the best thing that could happen for the Peak. Our Committee has worked diligently to protect the significant number of jobs at the Peak, keep it open and give it the opportunity to succeed. This agreement is the first step that will move the property out of bankruptcy. Creditors and patrons alike will benefit.”
Steven Blake, of RSM McGladrey, Inc., financial advisor to the Committee added, “This agreement will bring professional management to the resort, and help stabilize operations.” Daniel DeMarco, of Hahn Loeser & Parks LLP, the Committee’s attorneys, stated “Tuesday was a huge breakthrough.”
Richard Dixon, Chief Financial Officer of the Chautauqua County Industrial Development Agency, and Chair of the Official Committee of Unsecured Creditors, hailed this agreement.
“This agreement is the best thing that could happen for the Peak. Our Committee has worked diligently to protect the significant number of jobs at the Peak, keep it open and give it the opportunity to succeed. This agreement is the first step that will move the property out of bankruptcy. Creditors and patrons alike will benefit.”
Steven Blake, of RSM McGladrey, Inc., financial advisor to the Committee added, “This agreement will bring professional management to the resort, and help stabilize operations.” Daniel DeMarco, of Hahn Loeser & Parks LLP, the Committee’s attorneys, stated “Tuesday was a huge breakthrough.”
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