The Sea Island Co., owner of the famed but debt-laden resort on Georgia's coast, has filed for Chapter 11 bankruptcy and plans to sell the storied Cloister hotel and other upscale properties to two out-of-state investment groups.
dchapman@ajc.com, Atlanta Journal-Constitution
Wed, 08/11/2010 - 12:01pm
The Sea Island Co., owner of the famed but debt-laden resort on Georgia's coast, has filed for Chapter 11 bankruptcy and plans to sell the storied Cloister hotel and other upscale properties to two out-of-state investment groups.