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Naniloa hopes to stay open while pursuing a sale

By Gary T. Kubota

POSTED: 01:30 a.m. HST, Sep 17, 2013

~~<p>Naniloa Volcanoes Resort intends to seek support in federal bankruptcy court to continue business operations with the intent of eventually finding a buyer for the Hilo property.</p>
<p>David Farmer, bankruptcy trustee for Hawaii Outdoor Tours Inc., which holds the state lease and operates the resort, said that he has received two letters of intent to purchase the 65-acre property for $12 million and $14 million, respectively. Farmer, who last week was weighing whether to shut the hotel and lay off its 56 employees, said Monday that it is in the interest of the owners of the resort and the general community to operate the property until it is sold.</p>
~~

Naniloa Volcanoes Resort intends to seek support in federal bankruptcy court to continue business operations with the intent of eventually finding a buyer for the Hilo property.

David Farmer, bankruptcy trustee for Hawaii Outdoor Tours Inc., which holds the state lease and operates the resort, said that he has received two letters of intent to purchase the 65-acre property for $12 million and $14 million, respectively. Farmer, who last week was weighing whether to shut the hotel and lay off its 56 employees, said Monday that it is in the interest of the owners of the resort and the general community to operate the property until it is sold. Login for more...



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