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Wed Feb 8, 2012, 07:54 PM

Future of State Fair of Virginia in question

This discussion thread was locked as off-topic by racaulk (a host of the Latest Breaking News forum).

The State Fair of Virginia has until March 7 to either come up with new financing to maintain operations for a year or submit a way to keep The Meadow Event Park.

If it fails to meet the deadline, a group of lenders could take over operations, including the 360-acre entertainment and meeting complex in Caroline County, and possibly shut down the fair, which has been operating since 1854, according to documents filed with the U.S. Bankruptcy Court in Richmond.

SFVA Inc., the corporation running the fair that filed for bankruptcy protection Dec. 1, and its lenders agreed to the deadline, which could determine its future.

SFVA got into financial trouble because its investment portfolio took a big hit in the stock market's plunge in 2009 and because of poor attendance at the fair in 2009 and 2010, according to documents filed in December.

http://www2.timesdispatch.com/business/2012/feb/08/tdmain01-future-of-state-fair-of-virginia-in-quest-ar-1672097/

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Reply Future of State Fair of Virginia in question (Original post)
underpants Feb 2012 OP
jerseyjack Feb 2012 #1
racaulk Feb 2012 #2

Response to underpants (Original post)

Wed Feb 8, 2012, 08:47 PM

1. Maybe they can call on the Mittster to save the fair like he saved the

 

winter Olympics (with a bailout from the federal gub'mint).

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Response to underpants (Original post)

Wed Feb 8, 2012, 09:40 PM

2. Locking.

Per the LBN SOP, this forum should be reserved for news items of national interest. This appears to me to be more of a local interest story. Please feel free to repost in another forum such as General Discussion or Virginia. Thanks!

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