The Gaylord, Mich., resort filed for Chapter 11 bankruptcy protection last year, and was also the site of a University of Michigan fraternity rampage in January that left more than $400,000 in damage.
Treetops Resort and Spa in Gaylord, Mich., says that it has emerged from Chapter 11 bankruptcy protection following a voluntary reorganization, the Associated Press reported.
The golf and ski resort announced July 27 that the process gave its owners time to shed legacy debt and position itself financially for future improvements, the AP reported.
C&RB reported on the resort’s bankruptcy filing in December 2014.
The resort also was the scene of University of Michigan fraternity rampage in January that left more than $400,000 in damages. More than 120 Sigma Alpha Mu fraternity members tore up the ski resort the weekend of January 17-8, destroying ceiling tiles, exit signs, breaking furniture and doors and urinating on carpets, the resort has said. In total, 45 rooms were damaged. Members of the fraternity’s sister sorority were also at the Inn, but did not participate in the vandalism, the AP reported.
To date, three fraternity members have been criminally charged in the incident. Initially, Treetops estimated damages at $100,000. The figure has now jumped to more than $430,000, though the resort near Gaylord has already received nearly $200,000 from its insurance company and an additional $41,000 from the fraternity, the AP reported.
The resort remained open during the reorganization. General manager Barry Owens said in a statement that bankruptcy “was a necessary action to preserve the value of our business” and “allowed Treetops Resort to clear the deck and look to the future,” the AP reported.
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