Deep Creek Lake, MD - Owners of Maryland?s only ski resort have asked a federal bankruptcy court for more time to find a buyer.
(photo: Wisp Resort)
D.C. Development LLC, which owns Wisp Resort in Deep Creek Lake, near McHenry in western Maryland, asked the court in a filing submitted last week to delay its current August 10 deadline to provide a reorganization plan until October 9. They say that they?re in negotiations with two unidentified potential buyers while they concurrently craft a reorganization plan for the resort.
D.C. Development filed for bankruptcy protection last October after�unsuccessfully attempting to renegotiate a $28.5 million loan with BB&T bank, of Winston-Salem, N.C., that was taken out to develop residential sites and an 18-hole golf course near the ski area before the real estate market bottomed out in 2008. Wisp celebrated its 56th birthday as a ski area last winter.
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