It’s good that Wild West World has a buyer and that the defunct theme park could have another shot at succeeding. Murphy Brothers Exposition of Tulsa has signed a contract, though other bidders have until May 8 to top the offer. The rock-bottom $2 million sales price for the $30 million park won’t help creditors much. But without the huge debt load and with more cash reserves, the park might be able to make it this time. We hope so.
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13 Comments
Have a feeling they won’t be honoring all those season passes sold the first time.
Um they are gonna try to make it work?
Dumb. Destined for failure.
They should have just taken the break up value and moved on. No one is gonna go to Hee Haw on the plains.
Why not use a “Transient Merchant License”. Kansas offers them by county. Tho owner leases the park to itself at 49% of the gross-net income going to their TML. This is taxable at .05% or $2000.oo, which ever is less of the 40% transfered by lease agreement. The remainder goes to satisfy the $30,000,000.oo in debt. The 51% remains park profits. All sales taxes are collected on the whole number before divisions on said agreement. The 49% and 51% suffle is for profits only. Gross-net!! The TML is only for a 49% manuever of the income tax to satisfy debt of bankruptcy at the $30,000,000.oo. Read up on this at kansas.gov under the government icon. Then go to legislature, then to statutes. Type in Vending, Vendor and the Transient Merchant Lisence under keywords. All Transient Merchant Lisences are State controled thru the county treasurer. It cost $250 to get a yearly Lisence and you have to have a $2000,oo bond. Each county offers and has these per KSA Laws. This forces a County Treasurer audit and a banktruptcy court ruling do to the current disposition and Jurisdiction of debt/resources. The courts might allow this do to the TML is the “Minority Hold of the Portfolio of the owner of the Park”. Herbert West III west.herb@yahoo.com
A real wild west town needs a whorehouse.
Marsha, you spelled warehouse wrong.
So, what about Joyland? Joyland is way better than Wild West World and deserves to be bought and fixed up. This is a Wichita landmark, so why does no one seem to care? Wild West World went bankrupt in two months. Joyland was around for years. SAVE JOYLAND!!!!!!!!!!!
If you care about Joyland, go to
http://www.explorer7004.com and sign the petition.
Why do the people of Park City keep electing officials that are terrible judges of character (Ethridge) and business.
I might have to go sign that petition.\
Joyland I went to and would go to.
But the funpark founded on Hee Haw?
Ladies and gentleman, Mr. Buck Owens!
Alvis Edgar “Buck” Owens, Jr., (August 12, 1929 – March 25, 2006)
I’d pay to see Buck Owens
Maybe the Tulsa bottom-feeders will be able to run the place at a profit, now that they have gotten it at a good price. They don’t have to pay off $32 million in loans, etc., and they know the business.
It is still open game until May 8th. Consider my above post and push for Sedgwick County to get it and recap the $32,000,000.oo in losses. Herb West III west.herb@yahoo.com
“I’d pay to see Buck Owens”
Wouldn’t he be a little “ripe” by now?
Perhaps we have inadvertently stumbled on the new Wichita business model.
Find a business where the original owner, investor of his life’s savings and borrowings from associates who believed in his dream, who dared to work hard to build his dream of serving his fellow man … has stumbled under the load of government red tape and tax load.
Then force him to give it up, declare bankruptcy, cancel employee benefits, cancel business obligations … all so his efforts can be purchased by other less motivated people at 10 cents on the dollar.
I suspect there are many privately owned Wichita businesses that could be more profitable if their short/long-term debt could be cancelled, long-term employees fired, employee benefits cancelled, tickets already sold cancelled and keep the proceeds … you get the idea.
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[...] Wild West World getting another shot Wild West World getting another shot Itâ??s good that Wild West World has a buyer and that the defunct theme park could have another shot at succeeding. Murphy Brothers Exposition of Tulsa has signed a contract, though other bidders have until May 8 to top the offer. The rock-bottom $2 million sales price for the $30 million park wonâ?… Read the full post from WE Blog Tags: Business via Blogdigger blog search for debt. [...]