Baha Mar files for bankruptcy

After several delayed grand openings, the developer of the Baha Mar resort has now filed for bankruptcy.

Reuters reported that through the bankruptcy, the developer of the $3.5 billion Bahamas property will be able to borrow up to $80 million, pending approval by the U.S. Bankruptcy Court. A spokesperson for the property quoted in the article attributed the delays and additional costs to the resort’s general contractor.

Baha Mar was originally scheduled to open last December, however, delays pushed the opening back to March and then May.