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The Wichita Eagle Original Article »January 05, 2008 Bankrupt theme park Wild West World ended November with about $3.2 million in the bank, according to operating reports filed this week with U.S. Bankruptcy Court in Wichita. Court documents show that much of that revenue -- in six court-authorized bank accounts operated by park owner Thomas Etheredge's bankruptcy attorney, Ed Nazar -- was generated from ride sales. It's money Etheredge won't see. It will go toward the park's bankruptcy expenses and secured debt. Wild West World closed and filed for bankruptcy July 9, claiming insolvency two months after the $30 million theme park opened. Twenty-three of the park's 24 rides have been sold, two of them on consignment by Chance Rides, Nazar said. The Fiesta Mexicana is the only one that remains, Nazar said. It isn't clear whether sale proceeds approach the appraised value of the rides, Nazar said. Sources close to the bankruptcy say there's been no significant interest in the land from potential park operators. Plans to sell the park's metal buildings and offer the land to developers were delayed late last year when Realtors Grant and Bradley Tidemann of J.P. Weigand & Sons mounted an e-mail campaign to find a buyer. Bradley Tidemann said Friday that the campaign has yielded "a couple of prospects" with "mild to serious" interest. "I wouldn't say that anything definite has been set, but I think some folks would like to have this resolved by spring," he said. Park City Mayor Dee Stuart, whose city owns the park's parking lot, bridge and man-made lake after joining Etheredge's elaborate financing package, said she was undaunted by the ongoing search. "There's still time," she said. "Theme park operators don't grow on trees, and if anyone can find a buyer for the whole thing it's the Tidemanns." If the land remains unsold this spring, Bradley Tidemann said it likely will be auctioned as development ground. Meanwhile, auctions of park contents will resume at 9:30 a.m. Tuesday. Items to be auctioned will include maintenance tractors, passenger trailers, mowers, a pickup and other related items. |
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