Buddhist retreat says pandemic, Cameron Peak fire and “crisis in the larger Shambhala community” curtailed revenue.
The Shambhala Mountain Center in Larimer County filed for Chapter 11 bankruptcy protection this week as it restructures debt in the wake of financial struggles brought on by the pandemic, the Shambhala Buddhism sexual misconduct scandal and the Cameron Peak fire.
The bankruptcy filing, made Monday in federal court in Denver, follows the Buddhist retreat’s announcement last month that it’s changing its name to the Drala Mountain Center after becoming an independent nonprofit organization.
The center near Red Feather Lakes ran into financial difficulties in early 2019, in part, because of the shortfall in program revenues brought on by cancelations due to COVID-19 closures and the “the crisis in the larger Shambhala community,” according to a news release.