Myrtle Beach / USA: Hard Rock Park Has Filed for Chapter 11 …

As reported in "MyrtleBeachOnline" in early September, the Hard Rock Park, which only just opened this past April and had high expectations in terms of visitor numbers, has been through a tough summer. The park's management did not, however, disclose any exact figures. A group of local and international financiers had invested 400 million US dollars in the park. In response to visitor figures, which are presumably modest compared to expectations and prognoses, an Israeli investor, "Africa Israel Investments", is already writing off its share of the park. The park's opening hours were also reduced over the summer. According to "MyrtleBeachOnline", park spokesman Jim Olecki has announced a further cutback in opening hours. It has also been revealed that the park had only employed 2,000 staff members, rather than the expected 3,000. - Now the Hard Rock Park has filed for Chapter 11 bankruptcy protection and is closing for the year. The Park plans to reopen in spring 2009 after "restructuring efforts". (eap)