Major US Ski Resort Goes Bust
Major US Ski Resort Goes Bust
Published : 06-Mar-2009 01:19
Tamarack ski resort in Idaho has been declared bankrupt four years after the resort opened proclaiming itself the first new destination ski resort in the US a quarter century. The centre stopped operating lifts and accommodation yesterday (Wednesday 4 March) due to a combination of overdue loan repayments, limited credit, falling demand for property and unpaid bills. The resort had also made an operating loss of nearly three million dollars so far this season.Tamarack has seven modern lifts, a golf course and had completed 250 of over 2,000 planed accommodation chalets, with almost as many again under construction at the time that the resort ceased trading.
Tamarack had attracted several big name celebrity endorsements and resort guests included former US President George Bush.
The resort's lease to Idaho Department of Lands has been paid through to January 2010 raising hopes that an investor might be found during the year to relaunch the resort before it falls in to an unviable state.
Courtesy of and © Snow24 plc
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