January 20, 2010
Intrawest's debt could be auctioned off as a result of the continued financial struggles of parent company Fortress Investments. According to a notice published in several national newspapers Tuesday, the auction is scheduled to take place Feb. 19.
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Reports of auction churn after ads appear in national newspapers
Speculation about the future of Intrawest and its North American ski resorts swirled Wednesday after ads published in several major newspapers announced a public auction of lenders’ financial stakes in the company. The auction, scheduled for Feb. 19, would be for indirect ownership of property and stakes in Intrawest resorts including Steamboat Ski Area and Whistler Blackcomb, according to a Bloomberg report published late Wednesday.