ShoreTrips placed in receivership: Travel Weekly : vimarsana.com

ShoreTrips placed in receivership: Travel Weekly


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Saddled with more than $6 million in debt, cruise excursion provider ShoreTrips has been placed in receivership as owners Barry and Julie Karp try to sell rather than permanently shutter the pandemic-ravaged company.
According to court filings in Wisconsin, the Milwaukee-based company's liabilities include $4.76 million in customer deposits for trips that have been canceled. Additionally, the company owes $974,324 in accounts payable and $345,000 in long-term debt but has just over $100,000 in cash and assets.
ShoreTrips filed for protection from creditors in state circuit court in Milwaukee last month under Wisconsin's Chapter 128, which offers a state alternative to federal bankruptcy protection.
Milwaukee County circuit court judge Timothy Witkowiak appointed attorney Seth Dizard of the firm O'Neil, Cannon, Hollman, DeJong & Laing S.C. as receiver in the case. Last week, the judge ordered all creditor claims to be filed through the court by March 1.

Related Keywords

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