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Hard Rock / Freestyle Music Park Discussion Thread


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http://www.thecarolinaforestchronicle.com/v2/content.aspx?ID=24382&MemberID=1598

 

Another judgment has been declared against Freestyle Music Park, raising the amount of known judgments against the park to nearly $14.6 million. Court papers filed with the Horry County Clerk of Court’s office Aug. 3 awarded a trustee of Hard Rock Park, a progenitor to Freestyle Music Park, a judgment worth $570,000.

 

Alfred Giuliano is identified in court papers as the trustee. The judgment is in addition to a June 29 order signed in federal court compelling Freestyle to pay $14 million to Tetra Financial Group. Tetra Financial Group had sued Freestyle in 2009, one of more than a dozen debtors to take the now closed theme park to court. The original suit was for about $540,000. The June 29 judgment reflects a post-judgment interest rate of 18 percent from the judgment date. It also includes attorney's fees and costs.

 

The Aug. 3 order represents the full amount of debt inherited by FPI MB Entertainment, parent company of Freestyle, when it bought Hard Rock Park out of bankruptcy. With judgments issued, the Horry County Sheriff’s Office could take steps to repossess park property to help satisfy the debts.

The judgments are in addition to a lawsuit filed July 19 by VenCore Solutions LLC that also seeks to repossess a laundry list of equipment leased to the park, according to court records.

 

In addition to the Giuliano and Tetra judgments, two local companies were awarded judgments, prompting Freestyle to settle those debts.

Duplicates Ink, a Conway printing business, sued Freestyle in magistrate’s court on Oct. 2, 2009, saying the theme park never paid more than $9,900 in bills tied to the printing of various flyers and coupons.

 

Horry County Magistrate Bradley Mayers issued a pair of default judgments when Freestyle initially failed to respond to the initial suit within 30 days, according to court records. But a clerk with the Conway magistrate said the debt has been settled, bringing the case to a close.

 

Duplicates Ink co-owner Scott Creech has confirmed his business received full payment shortly after the order was issued. He said Freestyle paid Duplicates Ink $9,930.57 on Dec. 1, 2009.

 

All Star Talent, a local talent company, also won a pair of judgments in October 2009 and were later paid, an attorney for the business has said.

The judgments were for $2,795 and $7,620, respectively.

 

All of the judgments were handled in Horry County Magistrate’s Court.

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http://www.wmbfnews.com/Global/story.asp?S=12976609

 

Foreclosure proceedings recently filed against Freestyle Music Park could be signaling the end of a joyride for the multi-million dollar theme park.

 

FPI US, LLC, filed the foreclosure proceedings against FPI MB Entertainment, LLC, on Aug. 9 in the Horry County Court of Common Pleas.

 

According to court documents, FPI US distributed more than $30.8 million in loan agreements to FPI Entertainment between Feb. 27, 2009 and Aug. 25, 2009. Throughout the duration of ownership, FPI US alleges that FPI Entertainment has failed to make appropriate mortgage payments back to the company.

 

Due to the lack of payment, FPI US has requested through court documents that Freestyle Music Park be foreclosed on. Property included in the foreclosure proceedings include all "materials, supplies, rides, apparatus and other items of personal property now owned or hereafter acquired by FPI [Entertainment]."

 

The threat of foreclosure comes as more bad news for the embattled theme park that has seen its fair share of financial troubles since its original development in 2008.

 

Formerly operated as Hard Rock Park, FPI Entertainment acquired the $400 million theme park under bankruptcy for $25 million in February 2009. In addition to the park, FPI Entertainment inherited $569,000 in outstanding debt.

 

FPI Entertainment investors responsible for the purchase of the park included Roundbox Advisors; Freestyle Park International; Baker Leisure Group; Thomas M. Hiles, of Wilmington, NC; and D. Tim Duncan, of Myrtle Beach. Both Hiles and Duncan, according to a purchase announcement, were founding members of Hard Rock Park.

 

FPI said it would revamp existing rides, add new attractions and redesign the look of Hard Rock Park before its opening, making sure the park was a "long term success."

 

With just one season of operation under its belt in 2009, Freestyle Music came under financial fire after it was unable to meet lease payment deadlines, as outlined in contracts with a variety of businesses. FPI Entertainment was slapped with more than 17 lawsuits from companies including BMW, Duplicates INK and VenCore Solutions, LLC.

 

Officials with Freestyle Music Park later announced in early 2010 the park would be shutting down its business offices and laying off a limited staff used to maintain the park in the offseason.

 

Citing a lack of funding, speculation began to brew into the extent of the park's true financial problems.

 

Take a look at the official foreclosure documents...

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I heard on screamscape, that kinzel was at hard rock last week looking around.

 

I don't see how cedarfair could even think of buying this park with all the problems they have right now.

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I heard on screamscape, that kinzel was at hard rock last week looking around.

 

I don't see how cedarfair could even think of buying this park with all the problems they have right now.

 

 

Probably shopping around for more used rides for Carowinds.

 

If they could get the rattle out, I'd be happy to have Time Machine.

Edited by bgwfreak777
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i suppose we will have to see who shows up to the bankruptcy sale since it looks like thats where the owners want it to go after their latest court filing. So the only question is, who will want the rides the most. Honestly, after watching all of the programming on tv and articles written on how hard it was to build the spin the bottle coaster, i wouldn't even consider disassembly, removal, and reassembly of the ride, it looks to be a maintenance nightmare and not worth the trouble. Cool idea, bad execution. the remaining coaster should be able to find a good home. with the beach adding a new fun house and gigantic ferris wheel, i doubt a park that far from the tourists will have much success a third time around without some serious money injected into additional infastructure, marketing, and transportaionn system to and and from the park. A nice trolley *might* help...

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^^That's interesting. I doubt he'd ever think about buying this park...but FMP did have some pretty nice coasters

They did?

 

1. One of the worst B&M's I've ever been on.

2. A standard Vekoma Mine Train

3. A Roller Skater

4. A low capacity water ride.

5. An over grown Roller Skater with a problematic lift.

 

Which of these were the "pretty nice coasters" because I fail to see any.

 

--Robb "They would be 'filler rides' at best re-located to any Six Flags or Cedar Fair park." Alvey

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Remember that there is a lot more infrastructure than just the rides that are going to be sold on the cheap...Dick could just as likely have been there to check on the kitchen equipment.

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Remember that there is a lot more infrastructure than just the rides that are going to be sold on the cheap...Dick could just as likely have been there to check on the kitchen equipment.

 

God knows they need new kitchen equiptment. The equipment they have now is not working.

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^^

 

For what they had, it was 'okay', But Mrytle is set more for a family area. Half the people I know that go there were big families, so the rides would then fit, I suppose.

 

But yeah, from my perspective, they could have done better, but for a regular guest at the park, I doubt they would have cared.

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For what they had, it was 'okay', But Mrytle is set more for a family area. Half the people I know that go there were big families, so the rides would then fit, I suppose.

But Hard Rock Park wasn't set up to be a "Family Park." They had very few attractions (if any) for smaller kids, and they had a freakin' ACID TRIP dark ride!!!

 

This was not a "family" park.

 

--Robb "Another reason why it was a stupid idea and failed." Alvey

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^I completely agree. Hard Rock failed to bring family into the equation in their rides, atmosphere and edgy in jokes (I mean, grEAT MEals diner). They thought that the "Hard Rock Bears" that they threw together at the last minute, coupled with the Banana Splits (which at least for me were completely alien) would be enough to suffice. They even dropped in a cheap kids area at the last minute to try and add some balance, but it was flawed from the start.

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^^That's interesting. I doubt he'd ever think about buying this park...but FMP did have some pretty nice coasters

They did?

 

1. One of the worst B&M's I've ever been on.

2. A standard Vekoma Mine Train

3. A Roller Skater

4. A low capacity water ride.

5. An over grown Roller Skater with a problematic lift.

 

Which of these were the "pretty nice coasters" because I fail to see any.

 

--Robb "They would be 'filler rides' at best re-located to any Six Flags or Cedar Fair park." Alvey

 

I know- "nice' in my book is "average". They weren't absolutely horrible and could, as you said, fit as rides in a smaller Cedar Fair park.

 

I think Michigan's Adventure would be a good choice, as thrillrider said.

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I was really looking forward to how this concept would come to life. A great idea and concept but the location was always in question. Also, after seeing what was on offer, nothing seemed different from what competing parks in the area's key feeder markets already have.

 

Does anyone remember the initial press release? It said something to the effect of that they challenged every ride manufacturer to put their heads together and come up with the most amazing attractions the industry has seen to really fit in with the theme. That's what they came up with? Either money was tight or whoever signed off on the attractions didn't really know what was already out there in competing attractions.

 

That being said, the original dark ride looked really unique and creative, along with the concept of the ferris wheel lift. Hopefully everything will find a great new home.

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come to think of it, the park might not be a bad investment after all. What one needs to know is how much steel is in the park, which shouldn't be too difficult being as all of the coaster track is weighed prior to shipping as are the other rides, then, do the math on how much you would get for all of it being as steel prices are still on the rise, and finally make sure you get the park at a steel of a price to account for teardown, and watch your money grow. Then you could easily turn the remains into a community center and donate it to the local government, let them worry about it after that.

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Does anyone remember the initial press release? It said something to the effect of that they challenged every ride manufacturer to put their heads together and come up with the most amazing attractions the industry has seen to really fit in with the theme. That's what they came up with?

 

I guess a largely unthemed mine train on a lawn was part of their definition of "amazing." Nights in White Satin was the best ride there.

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The park wasn't perfect, and for one thing all the concrete made for a very hot day during the summer.

 

I for one did like Time Machine & the mine train, but as you said they were nothing spectactular.

 

If they had themed the mine train like the one in Europe, it would've been awesome.

 

I guess Hard Rock just assumed their name alone would bring in people. No need to try and do much thought beyond that. 3,000,000 people the first year. Can we say Delusions of gradneur?

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For what they had, it was 'okay', But Mrytle is set more for a family area. Half the people I know that go there were big families, so the rides would then fit, I suppose.

But Hard Rock Park wasn't set up to be a "Family Park." They had very few attractions (if any) for smaller kids, and they had a freakin' ACID TRIP dark ride!!!

 

This was not a "family" park.

 

--Robb "Another reason why it was a stupid idea and failed." Alvey

 

What I was trying to say about the coasters were they were pretty tame, so it would then fit a more subtle crowd, but I see your point as well.

 

Like what most people have posted here: It was a good concept, just poorly planned and executed.

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While the original Led Zeppelin ride was not a great coaster, it was a very good ride experience. It would have been better if the pre-show had been properly ventilated. Also the pre-show did get old after multiple rides, but it was well done.

 

I can not imagine another dark ride coming along that could top Nights in White Satin. At least not in the US.

 

I think the original developers spent most of their investment on fireworks and theming for the dark ride.

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