After coming off of a summer that saw repeated ride closings, including some of the park's major roller coasters, Indiana Beach has closed for the season several weeks early. The park gave no advanced notice, but posted on their Facebook page that they are focusing on the 2012 season right now. (It seems after the news was posted, the Facebook account was deleted)
This also comes off of a season where a group of 40 employees actually walked off the job, citing safety concerns and unfavorable treatment from park management.
The park, which was family owned since the 1920s, was purchased in 2008 by a New York based company. It seems things went okay at first, but have steadily progressed downhill since then.
I'm not privy to the inner-workings of whatever the source of the park's problems are, but it would be a shame to see the property seriously affected by them long term. Hopefully either the current owners work the kinks out - or perhaps a new one could step in.