SAVANNAH, Ga. AP - Sea Island Co. is seeking federal bankruptcy protection and says it plans emerge from Chapter 11 by selling its coastal Georgia resorts, golf courses and private clubs for $197.5 million.Sea Island Co. filed for bankruptcy protection Tuesday in federal court in Brunswick. Court filings say the company is unable to pay more than $482 million in debt used to finance costly renovations and expansions completed in 2007.
August 11, 2010 at 12:00 AM
1 minute read
SAVANNAH, Ga. AP – Sea Island Co. is seeking federal bankruptcy protection and says it plans emerge from Chapter 11 by selling its coastal Georgia resorts, golf courses and private clubs for $197.5 million.
Sea Island Co. filed for bankruptcy protection Tuesday in federal court in Brunswick. Court filings say the company is unable to pay more than $482 million in debt used to finance costly renovations and expansions completed in 2007.
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