Company Files for Chapter 11 Bankruptcy
Introduction to the Bankruptcy Filing
The company that owns the embattled Miami Seaquarium has filed for Chapter 11 bankruptcy, as a new report from this year cites conditions at the facility that left several dolphins injured.
Background on the Bankruptcy Decision
The Dolphin Company announced in a news release Monday that it voluntarily filed in the U.S. Bankruptcy Court for the District of Delaware to restructure its business and address financial challenges.
Statement from the Company
"This restructuring will best enable the company to restructure under Chapter 11, a well-recognized court-approved process, while improving the welfare of our animals, ensuring a seamless experience for employees, and delivering an enhanced guest experience," said Steve Strom, who now oversees The Dolphin Company as a result of the Chapter 11 filing.
Recent USDA Report
This comes as another troubling U.S. Department of Agriculture report comes to light. Filed in January, the USDA reported dangerously low water levels in the dolphins’ tank, which led to four dolphins sustaining injuries.
Issues Cited in the Report
The report also cited that the Seaquarium lacked proper documentation of employee training in animal care and handling.
The report mentions that corrective actions were implemented and compliance was restored by the time of inspection.
Ongoing Disputes
Miami-Dade County has been trying to terminate the Seaquarium’s lease over unpaid rent, but a judge denied the county’s motion for an immediate eviction last November.
Conclusion
The bankruptcy filing and the recent USDA report highlight the challenges faced by the Miami Seaquarium. The company’s efforts to restructure and improve animal welfare will be closely watched in the coming months.
FAQs
Q: Why did the company file for Chapter 11 bankruptcy?
A: The company filed for Chapter 11 bankruptcy to restructure its business and address financial challenges.
Q: What were the findings of the recent USDA report?
A: The report found dangerously low water levels in the dolphins’ tank, which led to four dolphins sustaining injuries, and a lack of proper documentation of employee training in animal care and handling.
Q: What is the current status of the Seaquarium’s lease?
A: Miami-Dade County has been trying to terminate the Seaquarium’s lease over unpaid rent, but a judge denied the county’s motion for an immediate eviction last November.
