The Dunes, suffering from low revenue, filed for bankruptcy protection and reorganization under Chapter 11 on November 6, 1985. Later that year, Steve Wynn, chairman of the local Golden Nugget hotel-casino, offered $115 million to purchase the resort, although the offer was rejected. Businessman Donald Trump subsequently offered to purchase the resort for $100 million, although he was rejected as well. By July 1987, Hilton Hotels Corporation and Japanese investor Masao Nangaku both separately planned to purchase the resort. Nangaku purchased the Dunes that year for $155 million, although he could not make it financially successful.