Ski areas and resorts owned by Ruapehu Alpine Lifts in New Zealand have entered voluntary administration after three inadequate snow seasons, with financials further impacted by the pandemic, according to New Zealand press.
Two of New Zealand’s largest ski areas –Turoa and Whakapapa – have filed for bankruptcy proceedings.
Ruapehu Alpine Lifts is a non-profit organisation set up by skiing enthusiasts 70 years ago. It is exempt from paying tax and any profit is invested in improving ski areas. But the company lost almost NZ$6m (R62,5m) last year and has debt of more than NZ$30m (R312,4m).
In August, the businesses let go 135 workers, keeping only 196 employees.
Earlier this month, Turoa, famed for spring skiing, was forced to close three weeks earlier than scheduled. Whakapapa will remain open until October 24.
Professor James Renwick, a climate scientist at the Victoria University of Wellington, told Associated Press that future trends indicated warmer winters and that it was difficult to predict how long any individual ski area could survive.
