Hard Rock Biloxi's Parent Company Files For Bankruptcy - WLOX.com - The News for South Mississippi

Hard Rock Biloxi's Parent Company Files For Bankruptcy

Hard Rock Biloxi's parent company filed for chapter 11 bankruptcy Tuesday.

The company's President Joe Billhimer emphasized Hard Rock has plenty of money to rebuild the hurricane damaged resort, and pay all its vendors. However, its bondholders collected $160 million in insurance proceeds. And Billhimer said they weren't releasing that money to Hard Rock, or its parent Premier Entertainment to help with the rebuilding costs.

"Every legal action this company has taken since Katrina has been with a view of allowing vendors to get paid.  This action is no different," Billhimer said in a statement. "We have had made repeated requests to access insurance proceeds, only to be denied to the detriment of our vendors and creditors."

A news release says getting a bankruptcy judge to hand over the insurance proceeds should keep Hard Rock Biloxi on schedule to open next summer.

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