25th May 2023
Whakapapa and Turoa ski resorts went into voluntary administration last season with debts of $45m. It seems that rescue deals are near to completion. NEW
It followed a terrible winter for snow on the North Island with reduced visitors.
It came after the impact from Covid-19 all but wiped out previous seasons.
We reported on it at the time:
It is now being reported by NZ media that deals are on the table subject to government approvals.
For Whakapapa, the successful bidder is likely to be a private equity firm with links to businessman Tom Elworthy and Dave Mazey, who was the former leader of Ruapehu Alpine Lifts.
For Turoa, the successful investor will likely be Pure Tūroa, which is being led by developers Cam Robertson and Greg Hickman.
See this video from Newshub:
This article was originally published by Planetski.eu. Read the original article here.