Camp Empire in Crisis: Owners of Major Summer Camp Network Default on Bonds, Face Questions Over $34 Million Transfer

Camp Empire in Crisis: Owners of Major Summer Camp Network Default on Bonds, Face Questions Over $34 Million Transfer

The owners of dozens of prominent summer camps across the Northeast have come under intense scrutiny after disclosing that they failed to make required payments to Israeli bondholders and transferred $34 million to businesses under their control, raising serious concerns among investors and triggering a financial crisis surrounding their camp empire. Brothers Michael and David Shabsels, who control approximately 30 sleepaway and day camps – incl…