Intrawest ULC is a developer and operator of destination resorts and a luxury adventure travel company. The company was founded in 1976 as a privately funded real estate development company. In 2006, Intrawest was purchased by Fortress Investment Group, a private equity investment company, which resulted in the company being delisted from the Toronto Stock Exchange and New York Stock Exchange. Fortress was under financial pressure related to the ...
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Intrawest ULC is a developer and operator of destination resorts and a luxury adventure travel company. The company was founded in 1976 as a privately funded real estate development company. In 2006, Intrawest was purchased by Fortress Investment Group, a private equity investment company, which resulted in the company being delisted from the Toronto Stock Exchange and New York Stock Exchange. Fortress was under financial pressure related to the Intrawest debt, but a new loan with a single lender was completed in April 2010 and all prior lenders were repaid in full.
Intrawest is currently (2012) undergoing great financial stress and is thought to be on the verge of bankruptcy. This is backed up by reports of cuts to capital spending and the fact they are forcing all their employees to take two weeks of unpaid leave, a brand new policy implemented just prior to the end of their fiscal year.
In 1986, Intrawest acquired Blackcomb Mountain from the Federal Business Development Bank, a...
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