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Jul
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Another US resort goes bust
Wednesday July 4, 2012 - Email this article to a friend
Mammoth Lakes in California has filed for bankruptcy after running into financial difficulties.
The company has been cutting services and costs in recent years in order to keep going.
Now it has recognised that it cannot survive in its present form and with its current debt and has field for Chapter 9 bankruptcy.
It follows the demise of the ski resort of June Mountain, also in California, that we reported on last month here on PlanetSKI.
The town of Mammoth Lakes said it had no option after its largest creditor, Mammoth Lakes Land Acquisition, refused to negotiate for further concessions.
MLLA is owed $43m.
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