Treetops, one of Northern Michigan’s premier golf and ski resorts, has filed for Chapter 11 bankruptcy.
The 60 year old resort is said to be $25 million in debt.
Chapter 11 bankruptcy gives a company the room to reorganize and restructure without closing down and selling off all the assets. Treetops expects to remain open, and employees will continue to be paid.
Treetops was bought from the original owners, the Melling family in 2002 by an investment group headlined by golf instructor Rick Smith.
I wish them good luck. Northern Michigan is much richer for the presence of the Treetops Resort.