Aspen Lakes Golf Course files for Chapter 11 bankruptcy
Aspen Lakes Golf Course LLC near Sisters has filed for Chapter 11 bankruptcy protection, the second such step at the location in seven years, after a rough 2017 due to eclipse-gridlock fears and weeks of skies clouded by late-summer wildfire smoke.
“A combination of the eclipse and fires last year caused a serious drop in revenue,” Matt Cyrus told NewsChannel 21 after a hearing in U.S. Bankruptcy Court Tuesday, five days after the Chapter 11 petition was filed.
“That, and COVA (the Central Oregon Visitors Association) switched its marketing direction to the Bay Area instead of the I-5 corridor, where most of our customers come from,” Cyrus added.
Keith Cyrus and sons Matt and Brian, later joined by sister Pam Cyrus-Mitchell, bought nearly 1,100 acres just east of Sisters more than 30 years ago and built the golf course. Today, the property also has more than 100 large home sites and hosts numerous weddings and other events at its 26,000-square-foot clubhouse.
In 2011, a separate Cyrus family-owned company that acted as landlord, Wildhorse Meadows LLC, filed for Chapter 11 to restructure $4.6 million in debt. This time, court records show a list of more than 200 creditors.
