Bayshore Broadcasting Corporation
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News Centre

Friday, March 18, 2011

Talisman Struggles Financially

Beaver Valley | by Jon Meyer  

News Release from ski resort says escalating costs and weather force early closure.

It turns out the closing of Talisman ski resort before the March break isn't just about snow conditions.

As Bayshore Broadcasting News reported last week, Talisman ski resort at Kimberley is now closed.

It shutdown on March 10th, a full ten days ahead of the regular scheduled closing.

At the time, officials blamed the recent rain and poor hill conditions.

However, a news released posted on the resort web site says the decision was based on several factors -- including the weather, safety concerns about the conditions, and the escalating cost of operations.

A caller to the Bayshore Broadcasting Newsroom claims she and other workers at the Talisman ski resort have NOT been paid in a month.

She claims her calls to management have not been returned and workers are owed thousands of dollars.

The company news release states that keeping Talisman open thru March break would only compound its' operating losses. 

In addition, the release says the prolonged global recession has impacted any chance of a timely sale or refinancing of the ski Resort.

Despite ongoing rumours, Talisman it says is not now, nor has it ever been, in receivership -- however, significant additional capital is required to re-establish the property to its appropriate position in the market.

Talisman will remain closed for an indefinite time, to allow for a financial restructuring.

Calls to the Talisman ski resort go unanswered, with an automated voice saying simply the facility is closed.


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