Lost Valley owners are struggling to obtain a line of credit to continue ski operations.
Friday, August 22, 2014, NewEnglandSkiIndustry.com
A week after NewEnglandSkiIndustry.com reported 2014-15 operations were still in jeopardy at Lost Valley, a new report has emerged that Lost Valley may not be able to obtain a line of credit to continue ski operations.
According to WCSH, Lost Valley is awaiting an Efficiency Maine audit report, with hopes they'll be able to obtain a line of credit with the findings. Without a new line of credit or new buyer, Lost Valley would likely cease ski operations and become a banquet facility.
Located in Auburn, Maine, Lost Valley has been in operation since the 1961-62 season. The 240 vertical foot ski area features two chairlifts, snowmaking, and night skiing. The current ownership group took control of the area in 2004 and has incurred ten consecutive seasons of losses.
While summer operations, such as banquets and paintball, have continued in 2014, 2014-15 ski season pass information has yet to be posted on Lost Valley's web site.
An announcement regarding operating status is expected before the end of the summer.