Ruapehu Alpine Lifts (RAL) has appointed a voluntary manager after facing serious financial problems.
In a statement, RAL said the past three years had been difficult to cope with the Covid-19 pandemic and that this season’s ski season had been hit by bad weather.
We employ approximately 196 staff at the Whakapapa and Turoa ski areas in the central North Island.
Whakapapa will remain open as planned through the end of the season, which is scheduled for October 24, weather permitting.
Three T-bars operate: Valley, Knoll and Far West, and the Skywaka Gondola for access and sightseeing.
PwC’s John Fisk and Richard Nacey have been appointed as voluntary administrators.
Fisk said the company is “under considerable cash flow pressure.”
RAL’s directors considered various options but were unable to secure the required level of capital, he said.
“Any manager will continue to trade the business while it determines the most appropriate way to maximize the collection of creditors.”
A first report on the financial condition of the company is submitted to the first meeting of creditors.
https://www.rnz.co.nz/news/business/476479/skifield-operator-ruapehu-alpine-lifts-appoints-voluntary-administrators Ski resort operator Ruapehu Alpine Lifts has appointed a voluntary manager.