The cash strapped owners of Freestyle Music Park in Myrtle Beach, South Carolina, US, have been granted more time to pay off their debts.

The 55-acre theme park, which opened in April 2008 as Hard Rock Park, was acquired (and renamed) by FPI MB Entertainment (FPI) for US$25m after its former owners filed for Chapter 7 bankruptcy.

However, as previously reported in Leisure Opportunities, those former owners - Myrtle Beach Operations, who designed and built the park – asked FPI to pay US$570,000 in outstanding debt back in January.

FPI was due to pay of the debts this month, but has been granted an extension until 1 April by a Delaware bankruptcy court.

The park will remain closed while the company attempts to raise the funds, but is scheduled to reopen in spring.