Bankruptcy judge approves deal for Missouri marina

Author:
Updated:
Original:

A federal bankruptcy judge last week approved a proposal by Ridgedale, Mo.-based Gage's Long Creek Marina Inc. to sell all of its assets to Big Cedar Lodge.

Big Cedar Lodge, also located in Ridgedale, is owned by Bass Pro Shops.

The judge gave preliminary approval to the $2.3 million deal in February, but established a window several weeks long during which third parties could submit competing offers for the marina’s assets, the Branson Tri-Lakes News newspaper reported.

“There were no competitive bids submitted, so the parties will proceed to close in the near future,” David Schroeder, attorney for the marina, told the newspaper.

According to filings in the case, which was heard in U.S. District Bankruptcy Court in Springfield, Mo., the marina’s assets include its main commercial dock on Table Rock Lake and associated buildings, eight other docks, a commercial yacht and all existing furniture, equipment and inventory.

Schroeder said the judge also allowed the marina’s estimated 130 existing boat slip accounts and rental agreements to be transferred to Big Cedar.

He said Big Cedar is now in discussions with the U.S. Army Corps of Engineers, which must issue its approval before the lodge can assume the marina’s lease. Once the Corps has done its due diligence, the two parties are expected to close.

Justin and James Gage, president and vice president of the marina company, filed Chapter 11 bankruptcy last summer, citing a down economy, disastrous flooding in 2008 and 2011 and the failed sale of a commercial yacht as factors.

Click here for the full article.

Related

Suzuki Powers Forest River’s New Nepallo Pontoon Boats

The new Nepallo line of pontoon boats with Suzuki engines will be sold at select Camping World and Gander RV & Outdoors stores.

West Marine CEO to Keynote Annual MRA Event

With a “Climate for Change” theme, the Marine Recreation Association’s Educational Conference and Trade Show is set for Oct. 11-13.

Skeeter Owner’s Tourney Held on Lake Fork

A field of 2,000 anglers in 1,000 boats saw a nearly 10-pound bass capture first place in the annual Skeeter owner’s tournament.

Email Remains a Vital Marketing Tool for Dealers

A content marketing staple, emails can consistently deliver valuable and relevant information, if done correctly.

ABYC to Publish Largest-Ever Standards Manual

The nonprofit is offering pre-orders until June 18 of its updated standards manual, with a publication date of July 31.

Furuno, Simrad Add SiriusXM Fish Mapping Suite

The subscription-based service offers offshore anglers a suite of technology with which to locate and catch more fish.