Greek Peak faces bankruptcy auction
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CORTLAND COUNTY, N.Y. -- It has been struggling with bankruptcy since August 2012, and now Greek Peak's assets could soon be auctioned off to the highest bidder.
A judge has set the auction for March 19th, pending approval in bankruptcy court. The ski area, Adventure Center, Hope Lake Lodge, and some undeveloped land will all be included in the auction, with a final sale hearing scheduled for the 21st of March.
The resort expanded in 2011 with the addition of the lodge and water park; but, it suffered low sales due to a warm winter in 2012 and another hit when the resort's creditor, Tennessee Commerce Bank, was shut down by the FDIC.
A representative of Greek Peak could not be reached for comment.