As reported today on BusinessWeek.com, the Evergreen Vintage Aircraft Inc., whose museum features historic planes including Howard Hughes’s gigantic wooden “Spruce Goose,” has filed for bankruptcy.The McMinnville, Oregon-based company listed more than $50 million in assets and more than $100 million in liabilities in Chapter 11 papers yesterday in Portland, without giving a reason for the filing.It was affiliated with companies that filed for bankruptcy in Delaware a year ago, including Evergreen International Airlines and Supertanker Services Inc., according to court papers.The case is In Re: Evergreen Vintage Aircraft Inc., 14-36770, U.S. Bankruptcy Court, District of Oregon (Portland).
Statement from the Curator Evergreen Aviation & Space Museum
“The Evergreen Aviation & Space Museum has filed for bankruptcy. It has not. Evergreen Vintage Aircraft Inc., a for-profit corporation has filed for bankruptcy, not the non-profit museum, which is a separate entity. Evergreen Vintage owns 25 of the 133 aircraft on display in the museum, and loans them to the museum for public display. The rest of the 108 aircraft on display, including the Hughes H-4 Flying Boat (aka the “Spruce Goose”) belong to the museum, or are on loan from governmental museums such as the National Museum of the USAF, the National Museum of Naval Aviation, the National Museum of the Marine Corps, and the Smithsonian’s National Air & Space Museum or private individuals.
The museum is not closing, and remains open 7 days a week, 9 am to 5 pm; except for Christmas, Easter and Thanksgiving. It continues to pursue its mission to “Inspire & Educate, To Preserve Aviation & Space History, and to Honor the Patriotic Service of our Veterans,” with or without the aircraft on loan from Evergreen Vintage.
Stewart W. Bailey
Evergreen Aviation & Space Museum”