Wisp Emerges From Bankruptcy
MCHENRY, Md. (AP) — Maryland’s only ski resort says it has emerged from bankruptcy protection under a new management firm.
The Wisp Resort in McHenry said Friday that the Salt Lake City-based Pacific Group will run the business for new owner EPT Ski Properties. The local management team, headed by General Manager Tim Prather, will remain in place.
Prather says Wisp is planning improvements in the coming year. They include expanded offerings for both winter and warm-weather recreation.
The previous owners filed for bankruptcy protection last year after defaulting on loans to build a golf course community near the ski hill. That project was sold to another party during bankruptcy proceedings.
EPT is a unit of Kansas City-based real-estate investment trust EPR Properties. It bought the resort for $23.5 million earlier this month.
(Copyright 2012 by The Associated Press. All Rights Reserved.)