NORTH MYRTLE BEACH, S.C. -- When Premier Resorts, a Utah company that managed some properties at Barefoot Resort, closed last week, the company left property owners without a way to get into their units and one couple without a venue for their wedding just weeks away.
Katie Allison and her fiance, Alasdair Dyer, had everything planned for their Nov. 7 wedding at the conference center owned by Premier when they got a call last week saying that Premier had locked the building and fired its employees. After nine months of planning, everything was up in the air.
"It's been an emotional roller coaster," Katie Allison said. "One moment I feel positive, the next moment you'll be in tears."
The uncertainty about Allison's big day is one example of the fallout from financial problems at Premier Resorts International, which also owns land at Barefoot Resort. The company defaulted on loans and has failed to pay property owners for managing their rental units.
In September, Carolina First Bank started foreclosure proceedings and filed a lawsuit against Premier Resorts International, based in Park City, Utah, and the local subsidiary, Premier Holdings of South Carolina LLC, for failing to make payments on two loans worth a total of $6.75 million.
Premier Resorts has been trying to sell some other property it owns at Barefoot Resort that is not part of the foreclosure, including the marina, Docksider's Restaurant and about 70 vacant acres, said Pete Bine of Tradd Commercial. Representatives for Premier Resorts could not be reached for comment this week.
Scott Van Pelt said Premier owes him money for the rental of a slip he owns at the marina.
"It's almost beyond comprehension," he said. "I'm not an attorney but to me that's fraud, you can't collect monies and just run out of town."
Read more at TheSunNews.com