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Schlitterbahn struggling? S. Texas water park faces bankruptcy auction

The original Schlitterbahn in New Braunfels is an undeniable success.

Has been for nearly 40 years.

But its spinoff on North Padre Island? Not so much, according to media reports.

The Houston Chronicle says the North Padre Island water park and its accompanying resort could be auctioned off as soon as February, following a recent hearing in U.S. Bankruptcy Court in San Antonio.

IBC Bank is the lender looking to foreclose, the Chronicle says. In the interim, the bankruptcy trustee will continue to market the facilities to potential buyers.

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An additional 270 acres of land surrounding the park and 92-room hotel, meanwhile, are reportedly set to be auctioned off as soon as this week.

Aside from the original Schlitterbahn in New Braunfels and the one on North Padre Island, the company also operates water parks in Galveston and Kansas City, Kan.

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