Drala Mountain Center, formerly Shambhala, files for bankruptcy
RED FEATHER LAKES — The Drala Mountain Center — the Tibetan Buddhist retreat and meditation hub formerly known as the Shambhala Mountain Center — has filed for Chapter 11 bankruptcy protection.
In documents filed Monday in U.S. Bankruptcy Court for the District of Colorado, the center — which changed its name from Shambhala in February — cites the COVID-19 pandemic, the Cameron Peak fire and a recent scandal involving sexual-misconduct allegations as a trifecta of causes for its declaring bankruptcy.
It owes about $4.23 million, according to court documents.
The center was founded in 1971 to serve as a retreat center for mediation…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!
Related Posts
-
A trio of Boulder startup scene veterans is reviving the local Techstars accelerator program, which…
-
LOVELAND — BizWest in October will present the Northern Colorado Affordable Housing Summit, a half-day…
-
Louisville-based online used bike retailer The Pro’s Closet will ride off into the sunset, announcing…
-
The Le Peep location in the Village Shopping Center will close after business hours on…
