Walt Disney World will officially be operating World Showcase’s Morocco Pavillion.
The news broke yesterday, and after personally speaking with a Disney spokesperson, I have an official statement to share;
“After many years of working together, we have a mutually agreed arrangement to begin the process of transitioning operations of the Morocco pavilion to Disney. By the end of the year, Disney will assume operations of this important part of EPCOT and under Disney’s operation, the pavilion will continue to honor the rich traditions and legacy it has since it opened.”
The news isn’t a total surprise to some. Back in September, Walt Disney Parks and Resorts has filed a UCC Financial Statement with the State of Florida. This protects the debt owed to it by the operators of its Morocco Pavilion at EPCOT‘s World Showcase, Marrakesh Moroccan Restaurant, LLC.
Disney had filed an initial financing statement, which is a form that contains the names and addresses of the debtor and secured party and a description of the collateral. A creditor files a Financing Statement to provide public notice of a security interest for the purpose of perfecting the interest.
Essentially, Disney had loaned Marrakesh Moroccan Restaurant, LLC money, but it seems that they have been unable to recoup that money to pay Disney back. Disney then took possession of the assets which accounted for essentially the entire pavilion.
We’re extremely excited about the news and look forward to seeing what the future brings for the EPCOT’s beautiful Morocco Pavillion.