VT Ski Resort May Not Reopen in Time for Holiday Season

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A Vermont ski club that was foreclosed on says it may not be able reopen in time for the holiday season.

The Brattleboro Reformer reports Hermitage Club President Harper Sibley told members Friday the club's opening would likely be delayed after receiving an "unsatisfactory" appraisal. According to Sibley, the club is hiring a second appraiser which will push back its closing.

Hermitage officials have been trying to restructure ever since the resort and multiple other properties were foreclosed on by the mortgage holder.

A court appointed receiver has been working to preserve the properties until they are sold or auctioned off.

Club officials are in talks with an undisclosed secondary lender that has a $30 million loan.

Copyright AP - Associated Press
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