Huis Ten Bosch Co., operator of a 17th century Dutch theme park in Sasebo, Nagasaki Prefecture, collapsed under 228.9 billion yen in debt Wednesday after Mizuho Holdings Inc. cut off funding in a race to resolve problem loans.
The failure of Huis Ten Bosch, Dutch for "House in the Forest," represents the largest failure of a theme park operator in Japan. It is the second largest failure of a public-private enterprise since the 2001 failure of Phoenix Resort Ltd., which ran the Seagaia luxury resort in Miyazaki Prefecture.
Seagaia is now undergoing rehabilitation under U.S. equity fund Ripplewood Holdings LLC.