scouser 4 Posted October 18, 2002 Share Posted October 18, 2002 Just saw this, translated badly into English: ================== The Japanese promoter Bandai Resort Kaihatsu, manager of a ski resort and a course of golf in the north of Japan, filed for bankruptcy his, showing a debt estimated at 776 million euros. "Today, we deposited our file in front of the court of Tokyo" to profit from the law of protection of the firms in bankruptcy, indicated a representative of the company based to Bandai, with 200 kilometers in the north of Tokyo. "We intend to continue our activity, in search of new investors able to help us to make succeed our procedure near the court", indicated the representative of the company, under cover of anonymity. The publication of the amount of the debt is the fact neither of Vandai Resort Kaihatsu nor of the court of competent jurisdiction but of the private research center Teikoku Data Bank, which specified that the total figure was 94,6 billion yens (776 million euros). The setting in bankruptcy of the Japanese promoter is due mainly to a fall of the contributions of the members of the club and to a sales turnover in stagnation of its installations, ten years after the bursting of the speculative bubble in Japan, explained the institute. Vandai Resort Kaihatsu, founded in 1987, manages the ski resort "Alts Vandai" which includes/understands hotels and a course of golf located at the foot of the Mount Bandaged. The capital of the company is assembled to 1,2 billion yens with several large shareholders of which the most significant railroad company of the country, East Japan Railway, shareholder to a total value of 5%. The local government of Bandaged holds approximately 50% of the actions of the company of promotion. The principal creditors with at their head Sumitomo Trust and Banking could not find their funds because of the bankruptcy. "We will await the continuation of the events and we hope that Vandai Resort Kaihatsu will be left there with the support the court", a spokesman of Sumitomo declared, which lent the enormous sum of 79,5 billion yens to the company put in bankruptcy. The bankruptcies of course of golf accelerated this year, according to Teikoku Data Bank. Between January and September, 71 clubs filed for bankruptcy, against 53 over all year 2001 and 26 in 2000. http://www.lemoniteur-expert.com/depeches/contenu/depeche.asp?dep_id=D4FF36F A5&mode=0 Link to post Share on other sites
zebedee 1 Posted October 18, 2002 Share Posted October 18, 2002 See they should have charged lower prices Link to post Share on other sites
NoFakie 45 Posted October 18, 2002 Share Posted October 18, 2002 Mount Bandaged? Link to post Share on other sites
akibun 0 Posted October 18, 2002 Share Posted October 18, 2002 Bankrupt? Really will they keep open? Link to post Share on other sites
klingon 10 Posted October 19, 2002 Share Posted October 19, 2002 And I thought that place was doing well... Link to post Share on other sites
cheeseman 1 Posted October 19, 2002 Share Posted October 19, 2002 They should maybe have opened a Cheese Superstore at resort, hence attracting large numbers of cheese fans from around the country looking for a nutritious cheese fix. Link to post Share on other sites
igloo 3 Posted October 20, 2002 Share Posted October 20, 2002 They'll battle on. They've got London Hearts to help out. Link to post Share on other sites
Recommended Posts