AP NEWS

Bankrupt West Virginia ski resort sold at auction

November 21, 2019

CHARLESTON, W.Va. (AP) — A bankrupt West Virginia ski resort has been sold at auction.

The Charleston Gazette-Mail reports Perfect North Slopes Inc. of Lawrenceburg, Indiana, plans to reopen Timberline Four Seasons Resort in Tucker County for the 2020-21 ski season.

Perfect North Slopes was the second-highest bidder at an auction this week, but high bidder First Asset Holding LLC agreed to assign its bid of $2.2 million to Perfect North Slopes in exchange for $30,000 cash.

Timberline cut short its ski season last February and filed for Chapter 11 bankruptcy protection in April. It had been family operated since 1987.

West Virginia Ski Areas Association executive director Joe Stevens says in a news release that the purchase “is great news for the ski industry in West Virginia.”

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Information from: The Charleston Gazette-Mail, http://wvgazettemail.com.