Simad Holdings, the operator of youth sleep-away camps in the Northeast including a popular retreat in New York’s Catskill mountains charging $16,750 for the summer, has filed for bankruptcy.
The company, which runs 22 overnight camps and 8 day camps, sought court protection Thursday in New Jersey listing more than $500 million in liabilities on its Chapter 11 petition. Simad shareholders Michael and David Shabsels also filed personal bankruptcy. The combined camps were appraisedlast year at roughly $466 million, according to a valuation report. Roughly 19,900 campers passed through Simad properties in 2025.
A Simad spokesman said Friday ...
