Celebrity Timeshare Resorts Ending its Chapter 11 Bankruptcy
Saturday, January 29, 2011
Earlier this month, Orlando timeshare company Celebrity Resorts, announced it is formally exiting its court-supervised bankruptcy. An attorney for the timeshare company says it is fully intact and has experienced no job losses.
The reorganization and Chapter 11 bankruptcy protection commenced early in 2010, and at the time listed $35 million in debt and $25 million worth of assets. A $4 million financing from a lending subsidiary of Textron Inc, was critical in helping the company through its period of reorganization along with the renegotiation of debts and other legal measures.
Founded in the 1980s to sell Orlando timeshares, Celebrity Resorts and its affiliates, have 13 timeshare properties located across the US, including Hawaii timeshare, Florida timeshare, and timeshare in Colorado, Pennsylvania, Nevada, and New Jersey.
News from The Timeshare Authority blog on Celebrity Resorts and the related events at David Walley’s Timeshare:
