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The owner of Indiana Beach has filed for bankruptcy. Apex Parks Group tells The Times of Northwest Indiana the Chapter 11 filing will allow it to restructure debt and enter into a purchase agreement.

“After an exhaustive examination of all options, we’ve determined that a sale of the company through the Chapter 11 process is the best path forward to enable Apex to focus on future operational transformation and growth,” said CEO John Fitzgerald.

Apex operates 10 different amusement parks across the country, but all of them have been temporarily closed because of the coronavirus pandemic.

In February, the company announced it was closing the popular amusement park on Lake Shafer, and looking for a buyer.

According to The Herald Bulletin, the White County Commissioners say a potential sale of Indiana Beach is still proceeding, hoping the purchase will be finalized “early next week.”