American Skiing Co. Avoids Bankruptcy

STEAMBOAT SPRINGS, CO-The owner of the ski resort here gets $16 million in cash and a guaranteed $14-million loan to avoid bankruptcy, and still hopes to sell its ski resort by the end of 2001.

By John Rebchook | July 26, 2001 at 01:01 AM

The company also says it is still needs to sell its ski resort by the end of 2001 in order to raise cash.

The ski resort is drawing a number of interested parties. But American Skiing declined to identify them as they complete their due diligence and go through the company's books. American Skiing required interested buyers to sign a confidentiality agreement.

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