Treetops Files Chapter 11

Gaylord's Treetops Resort has filed for Chapter 11 voluntarily reorganization. Management says it intends to "continue normal operations throughout this process," noting it must "position itself financially for future improvements to its property."

The filing was made in the U.S. Bankruptcy Court for the Eastern District of Michigan in Bay City.

Court filings indicate that despite improving performance, Treetops Acquisition Co. LLC has been unable to make interest or principal payments on $7 million in long-term debt and property taxes.

“The filing is necessary to preserve the value of our business and to ensure continued operations,” said General Manager Barry Owens. “The voluntary reorganization will allow Treetops Resort to clear the deck and continue working through the regulatory process that will allow us to stabilize operations. All of our efforts are focused on completing this process in an efficient and successful manner.”

The resort is celebrating its 60th year of skiing.