A federal bankruptcy judge has appointed a Chapter 11 trustee to oversee the affairs of Seaquest now that a sale of the chain of indoor aquariums has been canceled.
What happens to Seaquest's animals after bankruptcy sale withdrawn?
A federal judge appointed a Chapter 11 trustee to handle the company’s affairs.
The Minnesota Star Tribune
February 7, 2025 at 3:24PM
Seaquest Holdings, which has a location in Rosedale Center, filed for bankruptcy protection in December and subsequently asked the court to expedite a sale of assets to Jeff Cox with Z&A Management LLC for $80,000.
But that offer last week was withdrawn, according to court documents, leaving the status of animals uncertain.
Seaquest previously said in court filings that animals at its five remaining locations require constant care and that the company does not have enough cash or potential future sales to sustain operations and necessary animal care
“If the sale does not occur before the middle to end of February, the welfare of the animals and business operations will be in jeopardy,” a previous filing from Seaquest said.
Judge Benjamin Hursh this week said the trustee must “act quickly” to determine any potential for the sale of Seaquest’s assets to Cox, the People for the Ethical Treatment of Animals (PETA) or other interested buyers.
Cox is part of Noveen Capital, which already owns a 4% interest in Seaquest.
PETA was among individuals and organizations to file letters pleading with the court to reject the sale.
“A proposed sale to a company owned by an insider with no experience, expertise or particular interest in animal care and husbandry will not protect animals’ welfare,“ the organization wrote in its Jan. 29 petition. ”Continued operations as an indoor, mall-based, ‘interactive’ aquarium and petting zoo will lead to more sick and dead animals, violations of federal, state, and local laws, injuries to people and public opposition."
This week’s court action was welcomed by PETA, which in an email to the Minnesota Star Tribune said it looks forward to working with the trustee “to achieve the best possible outcomes for the animals.”
“PETA welcomes this development and looks forward to working with the Chapter 11 Trustee to achieve the best possible outcomes for animals.”
The Roseville aquarium is under investigation in Ramsey County, and a case is under review for charging considerations, the county attorney’s office confirmed Friday.
Besides Roseville, Seaquest still has four other locations that remain open, in Utah, Nevada, New Jersey and Idaho.
In another court action this week, Seaquest was granted authority to use cash collateral to cover wages, benefits and other operational costs for another 30 days, through March 3.
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