Parkprovo, LLC, which owns the Seven Peaks Waterpark in Provo, has filed for federal bankruptcy.

Parkprovo filed for Chapter 11 bankruptcy Monday in the United States Bankruptcy Court District of Utah.

There has been no arrangements for the Provo water park to operate as a Seven Peaks facility for the 2018 summer season, according to a statement posted Tuesday on the Seven Peaks Resort website.

“The Seven Peaks management team that has managed the park for nearly two decades, had recommended a reputable, experienced and well-known water park management company to operate the park for the 2018 summer season, but the bankruptcy filing by Parkprovo LLC, makes it unclear now what will happen regarding the management of the park,” the statement reads.

Parkprovo, LLC is separate from the Seven Peaks management team.

It was announced earlier this year that the Seven Peaks Water Resort would not be on the Pass of all Passes this year. The traditional Christmas at Seven Peaks event was cancelled last season.

The water park opened in 1989 as a resort that included the Excelsior Hotel (now Marriott Hotel), water park and golf course that was owned by Victor and Suzann Borcherds. The park was in financial trouble by the mid-1990s, when it filed for protection under Chapter 11 bankruptcy laws.

The resort had previously released a statement stating that the status of the affiliation of the water park with Seven Peaks was uncertain after the park’s management team learned that ownership of the water park was transferred to another owner in 2016, which retained Seven Peaks’ management within a leaseback agreement. That transition led to legal proceedings that were pending as of late March.

Seven Peaks Water Park Provo and Zibalstar LC are in court proceedings with plaintiffs Courtside Condominiums and Parkprovo, LLC. The lawsuit concerns properties at 530 S. 1200 West in Orem and not the Seven Peaks Waterpark location in Provo, however, the case and potential financial repercussions affect the resort’s ability to open.

More specifics on why the park is affected will likely be discussed during oral arguments on May 4.

Oral arguments in the case were scheduled for Tuesday, one day after the company filed for bankruptcy.

Isaac Paxman, deputy mayor of Provo, said in a prepared statement, “Seven Peaks has been a part of our community for decades. Provo prides itself on its recreational offerings, and I would bet most residents feel like I do — that we’ve been really grateful to have the water park here in our backyard. I’ve made some great memories there and I’d bet most people here in Provo and surrounding areas have too, through the years. I personally hope that they can get through whatever financial or other struggles they may be facing, get on a solid footing and become an even better venue. I’d love to see the park here for years to come.”