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Whistler Blackcomb bankruptcy
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January 20, 2010
Banks to sell off Whistler Blackcomb during Olympics
Creditors have seized Intrawest’s Whistler Blackcomb and plan to auction off the perennially profitable asset during the 2010 Olympic Games after the resort owner’s U.S. parent company Fortress Investment Group failed to make large loan payment to its lenders. “I cannot image a bigger nightmare for (VANOC CEO) John Furlong,” says SFU Business assistant professor, Peter Tingling, who can comment on the situation. SFU Business professor and marketing expert Lindsay Meredith, who has been following Interwest’s travails for years, can also comment. “Whistler Blackcomb is a big money maker,” says Meredith, “and the Olympics are the perfect time for the banks to sell it, when the whole world is watching.”
Peter Tingling, 778.782.3473; peter_tingling@sfu.ca
Lindsay Meredith, 778.782.5554, 604.939.0460; meredith@sfu.ca
Creditors have seized Intrawest’s Whistler Blackcomb and plan to auction off the perennially profitable asset during the 2010 Olympic Games after the resort owner’s U.S. parent company Fortress Investment Group failed to make large loan payment to its lenders. “I cannot image a bigger nightmare for (VANOC CEO) John Furlong,” says SFU Business assistant professor, Peter Tingling, who can comment on the situation. SFU Business professor and marketing expert Lindsay Meredith, who has been following Interwest’s travails for years, can also comment. “Whistler Blackcomb is a big money maker,” says Meredith, “and the Olympics are the perfect time for the banks to sell it, when the whole world is watching.”
Peter Tingling, 778.782.3473; peter_tingling@sfu.ca
Lindsay Meredith, 778.782.5554, 604.939.0460; meredith@sfu.ca