Amelia Island's Bankruptcy Filing
Amelia Island Plantation has filed for Chapter 11 bankruptcy protection, the Associated Press is reporting. The Florida resort said in court documents it would not have enough cash on hand to meet payroll this Friday without help from a group of homeowners who have been negotiating a possible investment.
The resort has four golf courses: Ocean Links (pictured), Oak Marsh, Long Point and Amelia River. All operations will remain open during the bankruptcy reorganization, the AP quotes President Jack Healan as saying.
The company has 825 employees and a semi-monthly payroll of more than $800,000, the AP says.