The Parliament House – a popular Orlando resort – is celebrating a big anniversary tonight - with its future in question.
The entertainment complex popular in the gay community – has filed for bankruptcy.
“They come from all over to visit this place. The shows, the icon factor, it’s world famous,” said Leigh Shannon, a former employee.
This weekend, the resort and dance club celebrates its 39th anniversary in Orlando.
“That’s why I moved to Orlando 29 years ago. I landed a job there as a performer,” said Shannon.
But the business’s financial future is uncertain.
Friday, its owners filed for chapter 11 bankruptcy, citing $15.5 million in debt.
The Parliament House’s attorney tells News 13 the business defaulted on loans during the recession back in 2009, and has been locked into a foreclosure and refinancing battle ever since.
The attorney tells me day to day finances here are going fine, and that the bankruptcy proceedings in the months to come should not affect business here. He says this was the owners’ way of trying to get out of the financial problems of the past – so the business can thrive in the future.
Leigh Shannon now owns Ritzy Rags, Wigs and More in Orlando knows all too well how tough it is to keep a local business going.
“I will tell you we go through feast or famine. I think we need to embrace more small businesses,” said Shannon.
The Parliament House’s attorney says there should be a hearing in a few days in federal bankruptcy court to initiate bankruptcy proceedings. He’s optimistic the business will be able to reach an agreement with its lenders.