BREAKING: Glenwood Caverns Adventure Park has officially filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court in Delaware, following a staggering $116 million wrongful death judgment related to the 2021 tragedy involving 6-year-old Wongel Estifanos. This urgent development comes just months after a jury in Garfield County found the amusement park partially responsible for Estifanos’s death during the Haunted Mine Drop accident.
Details from court filings reveal that Glenwood Caverns Holdings LLC, which operates the park, carries only about $5 million in liability insurance—far less than the judgment amount. The bankruptcy filing, submitted on Monday, aims to stabilize the business while allowing it to continue operations amidst financial turmoil.
In a statement released on Tuesday, officials from Glenwood Caverns acknowledged the severity of the situation. “The Chapter 11 process will allow Glenwood Caverns to continue operating while creating a structured, court-supervised process that ensures fairness and transparency as it pursues reorganization,” they stated. This move will pause collection efforts from creditors and enable the park to reorganize its finances.
The company emphasized its commitment to ongoing operations, reassuring visitors that scheduled events will proceed as planned. “The park will continue to operate as usual, with no impact to day-to-day operations or scheduled events,” the statement confirmed. This announcement follows the tragic incident that marked a devastating moment for the Estifanos family and the community.
“We recognize the unimaginable loss of the Estifanos family,” the park stated. “Our decision to pursue Chapter 11 is the most responsible path to stabilize the business, preserve operations, and maintain the value for the benefit of all parties.”
This bankruptcy filing encapsulates a significant moment of accountability and restructuring for Glenwood Caverns, as it seeks to navigate the aftermath of a tragic incident that has had widespread implications. The outcome of this filing will be closely monitored by the community and industry observers alike.
As this situation continues to evolve, the future of Glenwood Caverns remains uncertain, but the park’s statement indicates a focus on recovery and stability. Watch for updates on the restructuring process and its impact on the park’s operations and community relations.
