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Margaritaville Casino Biloxi Goes Chapter 11

BILOXI, Miss. (CelebrityAccess) — After a short run of just over two years, Jimmy Buffett's Margaritaville Casino Biloxi shut its doors, filing for Chapter 11 bankruptcy just ahead of a court hearing as the casino's landlord moved to seize the property.

According to the Biloxi Sun-Herald, Casino general manager Doug Shipley and chief financial officer Tris Mills had been subpoenaed to testify on Tuesday, but the bankruptcy filing put the court hearing on hold, turning the matter over to the bankruptcy court.

Earlier, the casino's management announced that the casino would close on Sept. 19 after failing to strike a bargain with the property's owners over the construction of a hotel the casino's management said was necessary for the venture to be profitable. The property's landlords, Clay Point LLC, said they have not been paid any rent since the casino opened and are owed $4 million in rent and $500,000 in taxes.

Bankruptcy filings revealed that the casino also owes $1.3 million to Roy Anderson Corp., which built the casino and $56,624 to Margaritaville Enterprises, which licenses Jimmy Buffett's trademarked Margaritaville stores and cafes. – Staff Writers