Beach Area One in Wasaga Beach may be a quiet place this summer because of the financial troubles faced by the company that owns many of the properties on the beachfront.
Beachfront Developments Incorporated is in discussions about receivership, with a court hearing planned for Thursday.
The company is struggling to refinance its massive debts.
Wasaga Mayor Cal Patterson says it’s unlikely the three bars along Beach One will open for the Victoria Day long weekend.
He says there is some question about whether other properties along the beach will open, either.
Patterson says the town is owed between 700- and 800-thousand dollars by the would-be developers for hydro, water and taxes.
Court documents suggest Blue Beach also owes federal and provincial taxes in excess of a million dollars.
Those same documents show several of the properties were used as collateral for second third and fourth mortgages.
Patterson says the town will get its money when the properties are sold, including interest, but he says there are concerns about safety in town as thousands of young tourists are expected for the long weekend, but no supervised place for their parties to take place.