Queen Mary may sail out of bankruptcy
LONG BEACH, Calif. -- A Santa Monica-based development team has bid $41 million to purchase the lease to the Queen Mary and its surrounding property, signalling a strong start to what could become a bidding war for the oceanfront acreage as early as this summer...
QSDI declared Chapter 11 bankruptcy in March 2005 and has been searching for a developer to take over the lease ever since...
The company has released no detailed plans for the Queen Mary's 40-acre site...[but the company is] considering a hotel and marina for the Queen Mary site. As for the ship itself [which is owned by the city of Long Beach], he said he believed the company planned to refurbish, but make few other changes to its operations.
O&S Holdings' $41-million bid...coincides with the 40th anniversary of the ship's 1967 arrival in the Long Beach harbor...
Read entire article at Long Beach Press Telegram
QSDI declared Chapter 11 bankruptcy in March 2005 and has been searching for a developer to take over the lease ever since...
The company has released no detailed plans for the Queen Mary's 40-acre site...[but the company is] considering a hotel and marina for the Queen Mary site. As for the ship itself [which is owned by the city of Long Beach], he said he believed the company planned to refurbish, but make few other changes to its operations.
O&S Holdings' $41-million bid...coincides with the 40th anniversary of the ship's 1967 arrival in the Long Beach harbor...