Michigan’s Treetops Resort Files Chapter 11 Bankruptcy; No Season Interruption
Treetops Resort, located near Gaylord, Michigan, announced Friday -- ironically as the ski area was coming on line for the new season -- that it had filed for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of Michigan in Bay City, according to UpNorthLive.com.
The venerable resort, which is 60 years old this winter, expects to continue normal operations throughout the process with no interruption in guest services and amenities.
“The filing is necessary to preserve the value of our business and to ensure continued operations,” Barry Owens, Treetops GM told UpNorthLive. “The voluntary reorganization allows Treetops Resort to clear the deck and continue working through the regulatory process that will allow us to stabilize operations. All of our efforts are focused on completing this process in an efficient and successful manner.”
The resort expects its current management team to continue to lead the company throughout the reorganization. They will work with key constituents to conduct an orderly restructuring process to maximize its asset value and to exit Chapter 11 as quickly and efficiently as possible.
“As we’ve seen in the past,” Owens added, “businesses can, and do, emerge from reorganizations stronger than ever. We expect to complete this process successfully over the next several months and be in a better position to serve our loyal customers, as well as our business partners and employees. It's still business as usual at the resort.”
The Resort’s high elevation and scenic beauty have proved a popular location for skiing and riding over the last six decades. Located just east of the village along a ridge overlooking the expansive Pigeon River valley, it offers 23 runs, The Yard Terrain Park, four chairlifts and a couple of surface tows. There’s also an Extreme Tubing Park with its own lift, and 20-kilometers of groomed trails for cross-country skiing.
Photo: Treetops will operate as usual during bankruptcy (Treetops Resort)