Owner of Margaritaville Resort Times Square Files Bankruptcy (2)

The owner of the Margaritaville Resort Times Square Hotel filed for bankruptcy after disappointing results since its 2021 opening left it fighting a foreclosure auction, court papers show.

The legal entity that owns the equity of the island-themed hotel filed for Chapter 11 protection Sunday night in New York, according to court papers. The hotel itself will likely seek protection from creditors soon, the filing shows.

The hotel — the only Manhattan outpost of Jimmy Buffett’s kitschy hospitality chain — opened in 2021, when tourism in Times Square had not yet recovered from the Covid-19 pandemic. It has lost ...