Resort Owner Files for Bankruptcy

The owner of the Westin Hilton Head Island Resort in South Carolina has reportedly filed for bankruptcy protection. According to reports, the owner listed assets at $10 million to $50 million and debt at $100 million to $500 million. The company plans to reorganize and cut debt while they continue to operate under Chapter 11 bankruptcy. The economy has done some damage to the company, but now they reportedly feel like they are rebounding.

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