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Greek Peak ski resort in NY files for Chapter 11

By Associated Press

CORTLAND, N.Y. (AP) - Greek Peak Mountain Resort in central New York has filed for Chapter 11 bankruptcy court protection.

The Press & Sun-Bulletin of Binghamton reports that the ski resort near Cortland has been unable to secure alternative financing after its primary lender, Tennessee Commerce Bank, was seized by federal regulators in January. The filing comes after a slow winter with little snow.

The newspaper reports that Greek Peak will continue normal operations as it continues to reorganize under bankruptcy court protection.

Greek Peak, 40 miles south of Syracuse, employs more than 1,000 people during the winter.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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