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Saddleback Unable to Finance New Lift, May Or Not Open; Looking For Buyers

Saddleback familyMaine’s Saddleback has been unable to secure $3 million in financing for a new lift they deemed necessary to open this coming season.

 

Saddleback reported In a Facebook postthey have “exhausted all reasonable financing options for replacing the Rangeley Double chair with a quad.”

Owner Mark Berry told SnoCountry.com earlier this summer that replacing the Rangeley Double Chair with a high-speed quad was the only way to keep the ski area viable, but was optimistic that a solution would be reached.

Now, the resort is reporting that although it has not been able to secure financing for the quad, “there has been significant interest in a purchase of the resort.” Although the resort would not share specific details on possible purchases, they did post that one of the following may occur:

  • "We have a buyer negotiating to buy the resort and install a quad lift this season.
  • We have a buyer negotiating to buy the resort; remain closed for the ski season and install a lift next summer. 
  • We have two potential buyers looking at operating status quo for the winter. Improvements would begin next summer. 
  • We are also discussing a leasing option." 

The Berry family has guaranteed that all season pass holders will be reimbursed and all vendors will be paid in full if the mountain does not open for the ski season.

Saddleback wrote In its Facebook post: “We appreciate the outpouring of support from our community and customers – this is a tough time for all of us. We understand the frustration about the unpredictability of the future and not being able to make winter plans. We assure you we are doing everything in our power to resolve these questions as soon as possible.”

Photos: Saddleback, popular with families, has been unable to find financing to replace the aging Rangeley Double Chair. (Saddleback)

 

 

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