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Financial Issues For Area Resort

Posted by wlpo on January 25, 2011

With debt totaling 10 million dollars, Grand Bear Lodge in Utica has filed for bankruptcy.

The Chapter 11 filing was done last week in Chicago federal court.  The bankruptcy filing allows Grand Bear officials to stay open and reorganize its debt obligations.  Among the people owed money by Grand Bear is the state and Utica.  The resort owes them around 160 thousand dollars each.

The Enchanted Forest amusement park was not part of the bankruptcy filing.  Grand Bear opened in 2005.

General Manager Joe Hook has not returned a call from the AM 1220 WLPO news department.

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