2 buyers looking at HRP

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HORRY COUNTY, SC (WMBF) - Hard times seem to be up for Hard Rock Park. A Delaware company has contracted to buy the theme park, with plans to re-open by Memorial Day, and a second company entered the sweepstakes on Wednesday.

FPI MB Entertainment LLC has confirmed they have entered into a contract to purchase the assets of Hard Rock Park, according to a press release from the company. FPI officials say the company has a fully-financed contract to purchase the park for $25 million and additional capital to run it through the 2009 season.

The contract is with the appointed Chapter 7 trustee in the U.S. Bankruptcy Court for the District of Delaware. According to the statement, there are no financing contingencies with regard to the transaction.

A court hearing to approve the sale is scheduled for Feb. 17. Alfred Giuliano, a trustee involved in liquidating the park, says FPI MB Entertainment made a $2.3 million down payment this week.

Just because FPI has a contract does not mean the deal is done. Between now and the scheduled court date, creditors could object and a bidding war could ensue.

A second company closer to home is hoping to cash in on the failed coastal amusement park, as well.

Mark Lazarus, the owner of Wild Water and Wheels in Surfside Beach, said he also was working with other investors on an offer, but released no details.

FPI predicts it will take about three months to get the park ready to reopen and hope to have the attraction up and running by Memorial Day. The firm plans to revamp rides, change its promotion and design new attractions and shows.

Officials for FPI say its members collectively have more than 100 years of experience in the attraction and entertainment industry.

The $400 million, 55-acre rock 'n' roll theme park opened last April and was the biggest single investment ever in South Carolina tourism.

The park closed in September when the company filed for bankruptcy protection.