An attorney for Thomas Etheredge confirmed Tuesday that a California amusement park company has signed a letter of interest to buy Wild West World.

Ed Nazar, an attorney with Redmond & Nazar LLP, said Tuesday that Parks America Inc. had offered $12 million for the Park City amusement park, which closed its doors and filed for bankruptcy in early July, two months after its grand opening.

"It's not a done deal," Nazar says.

The two sides will now enter into a due-diligence phase to determine.

Etheredge closed the park July 9 and announced he was $24 million in debt. Last Friday, he filed for Chapter 11 bankruptcy on Restoration Farms Inc., the parent company of the Prairie Rose Chuckwagon Supper.

According to court documents Restoration Farms has assets of $1.1 million, with liabilities of $5.3 million.