Greek Peak survives - buyer still sought
Sat, 12 Jan 2013 00:06:33 GMT —
hile Greek Peak's ski season is booming this winter, things weren't so good for the Cortland County resort last year after it filed for bankruptcy. Six months ago the resort was looking at closing for good. This would have left roughly one-thousand people out of a job. Greek Peak filed for bankruptcy partly due to the mild winter we had last season. The bank handling the loan went bankrupt last year. This forced the FDIC to step in and take over Greek Peak's debt and pump an additional 1.6 million dollars into the resort to keep in afloat. The resorts President cautioned that Greek Peak might not open without those funds.
Senator Schumer was at the resort today and spoke out for the community to find a buyer. Schumer said, "We're calling on the FDIC to continue to work with Al and Greek Peak to navigate the sale process quickly and thoroughly."
Schumer went on to say, "We are here to celebrate that nearly all of Greek Peak's trails have thus far this season been buzzing with skiers. Its chair lifts are running. Its doors are open to thousands of guests from around the country."
A celebration was certainly in order. Jessica Sloma is the Director of Marketing and Sales at Greek Peak, she told CNYCentral's Alex Resila, "We are up from last year and 2010 was a great year for us and we are up slightly over 2010."
Greek Peak received and additional four-hundred thousand dollars from the FDIC last month to keep them moving swiftly through the winter season.