OSHKOSH, WI (WTAQ) – The group that owns the Menominee Nation Arena in Oshkosh has filed for Chapter 11 bankruptcy protection in federal court.
Fox Valley Pro Basketball, Inc., filed the petition Monday. In the document, the company said it has between 100 and 199 creditors and has between $10 million and $50 million in liabilities.
Chapter 11 bankruptcy is used to give a company time to reorganize its debts and come up with a plan to pay them off. For reference, Shopko filed for the same bankruptcy protection as Fox Valley Pro Basketball earlier this year. Its reorganization plan was rejected in May and the company went out of business.
The filing comes as the arena owner is named as a defendant in three separate civil suits in Winnebago County court.
Bayland Buildings sued Fox Valley Pro Basketball and president Greg Pierce. It is requesting a third party be put in control of Fox Valley Pro Basketball’s assets. That’s because the Bayland claims FVPB has defaulted on $13 million towards the arena’s mortgage.
Because of the bankruptcy filing, the request for a receiver will be put on hold until it goes through bankruptcy court.
Menominee Nation Arena opened in 2017 as the home of the Wisconsin Herd, an affiliate of the Milwaukee Bucks in the NBA G League.
The arena was home to the Wisconsin GLO women’s basketball team, which recently completed its first season.
The arena has also been home to a variety of other events, such as boxing matches, concerts, and farmers’ markets.
