Future of State Fair of Virginia in question [View all]
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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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