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Cypress Gardens files for bankruptcy protection

2006-09-12

By Erik Yates: Its been a rumor for a while, but its official that Cypress Gardens has file for Chapter 11 Bankruptcy Protection, the Sun-Sentinel reports in an article published today. They cited debts stemming from hurricanes Charlie, Frances and Jeanne as the reason, which pushed their reopening back six months. Cypress Gardens does not plan any cuts or closures at this time. They have in recent months received the Starliner, a legendary wooden coaster, but have yet to assemble it, mostly in part to budget restraints. Cypress Gardens is the oldest park in Florida being open for 70 years, and was once the home for many movies, TV shows and renowned for its ski show.
This is sad news for me personally, as they were the only park generous enough to allow Coasting For Kids to use their park for a coaster marathon May of this year. I wish them a speedy recovery and hope they can finally start to get things right.

Readers' Opinions

From Rob P on September 13, 2006 at 2:16 AM
I hope that cypress Gardens can raise enough finance to erect the new wood coaster.....that could be the key to their survival.
It would be terrible if they had to close.
From pete Jimenez on September 13, 2006 at 7:42 AM
I always find it sad to hear of any theme park that is suffering, mainly due to bad weather beyond our control, While the part that makes me mad is due to a real bad G.W.Bush government
economic policy. That is hurting the majority of the many of millions of americans, below the proverty level. Plus the ones just above it>.(who go to the theme parks all summer long-not all of them this year) why?:A family of four can cost just to walk in the door- as my brother put it "outrages", the total park day for the family of four
with two teens/2- adult no over-night cost a total $ 542.00 + . Given to what i just said, about the have's & have-nots.. in turn it hurts everyone,everywhere our theme parks,water parks, zoos,parks, the list goes on.
Here's an idea: if we as(america) the riches country in the world,
How can we just let an 70 year old theme park, just sit there with a new wooden coaster StairLiner, and try not to do something about it?, we have the internet at our use, and if many as quoted have become millionares in the past five years, then why won't we find a few folks to help keep history alive in florida??? people would want to help, i'm sure of it. it's a positive move to try, to do, and we could only feel good about ourselves by attempting to do the right thing. ???
~
"A Dream" ~ we find a way to help cypress gardens get out of bankruptcy or fix it up, so we can put up the coaster, also bring more people to the park(from the site and word of mouth-hopefully.) and it will end happly ever after. Now, how do we save magic mountain???? and many others...
P>S> remember we lost all if not, most of our drive-in's in america... it can happen to our theme parks here in california- @ nation wide. - small/large parks - it's already begun, in ca. with magic mountain on the cutting board??????? who knows?
if, we don't show force that theses parks are important to the way of life for us here in this country, To the people of california, and the other states, more important to our nation as a way to release energy in a fun way, and spend time with the family. we all have more to lose, if they start to find the cost to keep a park open more than they were able before, we will surely lose to the greedy developers- just waiting to build their expenive codos (just like their ads).-( for the magic mountain land area).
let's not let that happen - we have to try and help cypress gardens ( if it's not to late- if it is, let's not let this happen to our
american history-when it comes to theme rides/parks at any other theme parks here in the U.S.A.) Hey, Is it to late to declare cypress gardens an historian site??
can someone check?? about cypress gardens 70 years-please:}
i'm sick other wise i would do it.
people, we can not let developers take our theme parks away ~
their is so much other land they could use( if they wanted to).
let's put our brains together and "save all theme parks in our country it a right and our privilege !!!!!! peace folks ~ sending good karma 2. u . < QUANPETE> end. ( coasters for life)
From Erik Yates on September 13, 2006 at 11:40 AM
From Screamscape:
The MSN Report on the bankruptcy mentions that the park has cited over $25 million in debts incurred by hurricane damage and to date their insurance companies have yet to pay most of the $25 million the park is owed. Overall the park is close to $70 million in debt and the bankruptcy filing lists more than $50 million of it.

I've heard a lot of comments about the park, from its a shame to they never should have bothered to reopen. I really think its unfair that a smaller park like this cant survive...I know its a bit soon to be talking closing, but unless something happens, they wont be able to survive very long. My hope is that the park goes on the market again and a larger company comes to the rescue. Of course Wild Adventures currently owns the park, but they arent in the best condition themselves. Cedar Fair Florida anyone?

From TERRY ISAACS on September 14, 2006 at 6:48 PM
Why don't we do the American way and donate money to help this park out I look around and I see that nobody has any problems paying the price that Walt Disney world charges I beleive if everyone would donate let say a hundred dollars this would help them out tremendously I bought the 2 year platinum pass just to support this park I do have passes for all the parks and I beleive for the money you get more for money at Cypress Gardens than any other park and I like the other parks I feel that Walt Disney World is over price I think for 300.00 a year for a 4 park pass that is to much if you think about how many rides they have or even at the other parks for that instance Cypress Gardens has way more rides than those other parks and plus the concerts events they have go buy those tickets at a ticket booth and see what you would pay just to hear these performers thats what I'm getting at so why not lets help them out and contribute to them so they can keep the doors open theres a lot of history their and it is a beautiful park the garden has become so lively since the hurricanes and think the staff does a good job keeping it that away so let help them out

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