Canada ski area owner under creditor protection

March 13, 2001
Source: Yahoo
Original story - link verified on March 13, 2001
By Jeffrey Jones

An owner of several top Canadian ski resorts, including World Cup-hosting Lake Louise in Alberta, said on Monday it has filed for protection from creditors and plans to sell a number of properties after being hit by a cash crunch. Resorts of the Canadian Rockies, a privately held company that owns eight high-profile ski areas in Alberta, British Columbia and Quebec, said it plans to restructure its debt and sell ``non-core'' resorts following a weak start to the ski season and its U.S. bank's decision to withdraw from ski-industry lending.

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