"Midwest Skiing Company LLC, which owns and operates the Whitecap Mountains Resort in Upson, Wisconsin, said in court papers that it filed for bankruptcy on Wednesday after back-to-back winters with "extremely low" snowfall gutted its revenue and left it buried in debt."
"The resort, with 43 ski runs across 400 acres, has been touted as the "snowiest ski resort in Wisconsin," a court filing in its bankruptcy case said, adding that Whitecap Mountain annually gets "some of the highest snowfall in the state making for excellent conditions and regular powder days.""
""The low revenue in 2023 put the Debtor in a position where it needed additional funding to cover its revenue shortage," said the filing. "While the Debtor survived the 2023-24 season, it required short-term financing to bridge the gap until the next ski season and payoff several expenses.""
Midwest Skiing Company LLC, owner of Whitecap Mountains Resort in Upson, Wisconsin, filed for Chapter 11 after consecutive winters of unusually low snowfall decimated revenue and increased debt. The resort operates 43 ski runs across 400 acres and historically records some of the highest snowfall in the state. Snowfall fell from 260 inches in 2022–23 to under 30 inches the following winter, cutting revenue from about $1.4 million to $197,000; the most recent season produced under 60 inches and roughly $532,000. Short-term financing from Brighton Asset Management followed and a lender has declared the resort in default while reorganization proceeds.
Read at Business Insider
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