Ski Resorts Sliding Towards Chapter 7 Bankruptcy
The forecast at the popular Idaho ski spot Tamarack Resort is cloudy.
KTVB in Boise is reporting that Banc of America is pushing for the court to order Tamarack into a Chapter 7 bankruptcy filing.
The ski resort is already facing foreclosure, and many creditors are fighting to get their hands on money still owed.
Banc of America owns the ski lifts on the resort, but they aren’t the only interested party. Petra Incorporated built portions of the resort, and joined the Banc in their bankruptcy petition.
But Tamarack is fighting back, as is Credit Suisse, which is owed nearly $300 million, much more than Banc or Petra.
Tamarack has 20 days to respond to the bankruptcy request. But right now, the only thing that is certain is that just as the ski season really starts to kick off, the future of one resort is looking icy.