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NEW TIMBERLINE NEWS
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Updated 9 days ago
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26 days ago

Timberline is now officially for sale, o’clock-stoc ad barrel,  as per an announcement by the owners, all assets included, everything!!!!  FRED HERZ BIDS FAREWELL.  From Ski Area Management magazine:

SAM Magazine—Davis, W.Va., July 24, 2019 —”Timberline Four Seasons Resort is initiating the sale process for substantially all of the resort’s assets. Timberline commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania on April 30, 2019, and expects to sell the company’s assets pursuant to Section 363 of the Bankruptcy Code.
See SAM’s recent report for background on what led to Timberline Four Seasons’ status.

Fred Herz, Timberline president, said: “We are incredibly grateful to have had the opportunity to purchase a raw mountain in Tucker County, West Virginia, over 30 years ago and grow it into the premier destination for mid-Atlantic and southeast skiers.”He continued, “After some challenging seasons, our family has chosen to exit its investment in West Virginia in cooperation and consultation with Griffin Financial Group,” which is serving as investment banker for the sale. “We believe it is the right time to pass Timberline on to new ownership.”

Assets included in the sale process and available to potential buyers include:

- the full ski resort operations
- all equipment and facilities associated with the ski resort—lifts, snowmaking equipment, 24,000-square-foot lodge, 20-room hotel, rental inventory, etc.
- real estate assets of more than 430 acres, including ski terrain, the base area and hotel, approximately 222 acres of development land adjacent to the mountain, and ski-in/-out residential property plots.

Ciardi Ciardi & Astin and Bielli & Klauder are serving as legal counsel.Interested buyers should contact Griffin Financial Group at zlc@griffinfingroup.com.”

Interesting…

MorganB aka The Colonel

24 days ago

Well.  OK.   It’s way past tiem for this to happen.

Sure hope this will work out well for the mountain, the valley, those who live in the area, and for all of us who would enjoy a modern, well-run ski area on this great WV mountain.

Thanks, Colonel, for the update.

Woody

21 days ago

I know it would take a massive miracle to open the resort this year for skiing (in any fashion), but is there any hope of someone coming in to buy the whole operation, invest some much needed money into improvements and open next year or the year after?   As has been discussed so often on this forum (and many others) it is has the potential to be a great ski resort with great terrain, a beautiful location, lots of reasonable housing options (esp for larger groups/families), easy access, etc..   Had so many great times with our kids on family trips and trips with their church youth groups that I hope we can have similar ones with our grandchildren at Timberline.  

21 days ago

I predict…..that the current owner is asking WAY too much money for a rundown ski resort. No one buys it, the creditors get tired of waiting for their money, and the place gets auctioned off. Someone with cash swoops in and gets the whole mess for a song. Just a matter of time.

9 days ago

Your prediction is correct as the currect asking price for Timber…try to line my pockets…line Ski Resort is $32,000,000.00…that’s right folks, thirty-two million doll hairs.  I am going out on a limb and predicting that there is some room for negotiation on the asking price.  Hope everyone is having a great summer and looking forward to an even better winter sports season.

9 days ago

Your prediction is correct as the currect asking price for Timber…try to line my pockets…line Ski Resort is $32,000,000.00…that’s right folks, thirty-two million doll hairs.  I am going out on a limb and predicting that there is some room for negotiation on the asking price.  Hope everyone is having a great summer and looking forward to an even better winter sports season.

9 days ago

It doesn’t matter about them listing it for sale.  Too late.  The chapter 11 bankrupcy was just converted to chapter 7 on friday by the bankrupcy court due to the owners inability to file timely reports and pay the required fees.  It will now go to the highest bidder on the courthouse steps in Parsons.  I understand that there are several, with deep pockets,  interested in getting it as a ski area.   

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