Problem here lies with potential buyers inability to get credit to make a purchase... ive seen far worse businesses be bought by stable consortiums that have the capital to invest to right a sinking ship. Look at Circuit City they have declared bankruptcy and are closing despite having two stable buyers ready to save them but were unable to get credit for the deal.
One other thing is if I were Tamarack I so would have called Bank of America out on the ski lift threat.... uh you want to repo two full ski lifts? .. um yeah come get em out the ground assholes lol.
No doubt on the ski lift thing. Sucks for the locals, people who have bought property, the season pass holder, day user, and business built around the resort being in operation. I find it unfathomable that creditors will not help work out a solution and take the hit instead. How does that make it a sound business decision?
Solitude has been shaky for years and I wonder how they are holding up under the current economic times. Ive noticed Brighton has actually been very busy this year but Solitude has not. My dream is for Boyne (the owners of Brighton ) to by Solitude and make one megaresort giving Solitude the "family friendly " treatment and letting the boarders take over Brighton and just making a crap ton of parks there lol. It sounds like fantasy but really its just the same thing that happened with Bear Mtn and Snow Summit.
I've had similar experiences wolf. When I was last unemployed I got behind on one credit card. The two other cards I had used it as an excuse to jack my rates, including the one I was late on. I dumped all of them.
Never been to tamarack, but considering i live in the state I'm sad to see a local state resort closing . Hopefully they'll rise again someday, I know schweitzer has gone under a few times and now it's running pretty successfully.