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Water Park Owner Apex Parks Files Ch. 11 to Start Sale Process

April 9, 2020, 4:54 AM

The company, which operates sites including Big Kahuna’s water park in Florida and Sahara Sam’s in New Jersey, files for Chapter 11 protection in Delaware.

  • Irvine, California-based Apex lists assets of $50 million to $100 million and liabilities of $100 million to $500 million
  • Co. says in filing it’s negotiating a sale to APX Acquisition Co., which will serve as a stalking horse bidder
  • Company’s advisers:
    • Bankruptcy counsel: Pachulski Stang Ziehl & Jones LLP
    • Investment banker/financial adviser: Imperial Capital LLC
    • Restructuring adviser: Paladin Management Group LLC
  • Co. says in separate announcement that chapter 11 process won’t affect operations of ...