Cypress Gardens Adventure Park has filed for Chapter 11 bankruptcy protection. The Ledger has the details. The primary reason is the recent lawsuit over insurance claims related to the 2004 hurricanes.

Buescher blames the park's financial troubles entirely on the 2004 hurricane season during which three hurricanes -- Charley, Frances and Jeanne --all caused major damage to the park within a six-week period in August and September 2004.

Damages from the hurricanes totaled about $30 million, Buescher said.

To date Buescher and his former insurer, Landmark American Insurance Company, have not reached a settlement on the losses on storm damages, Buescher said.

In September 2005, Buescher filed a lawsuit seeking a settlement.

There is nothing at the official Garden's site about the recent announcement. In fact the last update to the press room was January 2006.