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Owners, who only licensed the brand name and are not directly associated with Hard Rock International, blammed the failure on poor timing of the park's opening making visitors unwilling to pay the $50 admission and making lenders unwilling to lend money so the park could be marketed.
The 55-acre, $400 million park is hoping it can reorganize and reopen during 2009.
The Myrtle Beach Sun News has been leading the reporting on the closure. Go read it.