After filing for bankruptcy earlier this year, the All Resort Group closed its doors Thursday, saying they don't have the money to pay employees and continue operations. KPCW's Leslie Thatcher reports.
The letter below was sent to all All Resort Group employees Thursday, September 14, 2017.
"To All Team Members,
As you are aware, the Company has sought to reorganize itself under the legal protections of a Chapter 11 proceeding initiated on April 28, 2017. As part of this process, management and its advisors have explored all options to restructure operations and/or sell the company. Significant due diligence was performed by several third parties to purchase the business. Until today, management and its financial and legal advisors received encouraging communication that one such third party was on the verge of providing additional capital to allow the company to operate until a sale could be consummated. Unfortunately, we received word that additional capital and a purchase will not occur and is no longer a possibility.
As a result, the company has ceased operations, effective immediately, and the company’s Chapter 11 case was converted to a Chapter 7 liquidation. A trustee has been assigned by the office of the US Trustee to proceed to liquidate the assets of the company and wind down all remaining operations. The trustee’s sole objective is to protect and monetize the assets of the company in an effort to pay amounts owed to creditors.
Unless instructed otherwise, and as mentioned, all operations of the company immediately cease. Unfortunately, and with sincere regret, your employment with the company is hereby terminated, also effective immediately. Sadly, due to legal requirements and the installation of a Chapter 7 trustee, we are not able to pay you for accrued wages, PTO and other benefits.
We will be sending information on how you can file a claim for your wages from September 7th through today. We suggest you apply from unemployment and have notified the unemployment agencies already.
This is a somber day for all of us who have worked diligently to serve the company, its customers and community. Thank you for your commitment through a very challenging time. Words cannot express our appreciation to you for your service. Words also cannot express our sadness and disappointment with today’s outcome.
If you have questions, as many of you will, please reach out via email to Larry Killingsworth or Kaity Quinley and they will seek to answer your questions as quickly as able.
Thank you again for all you have done."
