Local News

Is It Really the ‘End of the Ride’ at the Corpus Christi Schlitterbahn?

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Schlitterbahn’s North Padre Island Water Park staved off foreclosure last week, for at least two months, in U.S. Bankruptcy Court in San Antonio, according to Corpus Christi’s KRIS news.  The Schlitterbahn Corpus Christi resort’s financial troubles have landed it among the biggest San Antonio-area company bankruptcies in the past two years.

Auctioned for $9 Million Last Week

Schlitterbahn

Photo: Facebook/SchlitterbahnCorpusChristi

KRIS reports that a pair of parcels closely tied to the ailing Schlitterbahn Waterpark & Resort development on North Padre Island fetched a combined $9 million during an auction on December 5th at the Nueces County Courthouse. Austin-based Axys Capital Credit, the company that provided the initial financing for the land, ended up with it. No other bids were received.

In a statement issued last week, a Schlitterbahn spokesperson said:

“We anticipate full resolution of ownership issues of the Schlitterbahn resort, waterpark and country club in Corpus Christi; we are confident in the trustee and in the value of the park and resort.  Schlitterbahn, as the operating group, plan on delivering outstanding events, honoring reservations, and operating a full waterpark season in Corpus Christi.

We are blessed with a talented team, a great community, and devoted fans in Corpus Christi. We appreciate everyone’s dedication and will do our utmost to be deserving of your continued confidence.”

Hard-Hit During Harvey

Schlitterbahn Corpus Christi

Photo: Facebook/SchlitterbahnCorpusChristi

Schlitterbahn’s Corpus Christi location took the hardest hit (of all of the Schlitterbahn locations in Texas) from Hurricane Harvey however, it is clear that the business was in distress before the storm impacted the area. As of press time, season passes for the 2018 season at Schlitterbahn’s Corpus Christi location were on sale on the company’s website, as well as plans for holiday events at the park, indicating that the business is “as usual,” at that location for the time being. The Schlitterbahn Resort is also taking reservations for the upcoming season. 

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