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June 26, 2023
Tūwharetoa keen to purchase beleaguered Ruapehu Alpine Lifts (RAL)
Waatea Team
Posted On June 26, 2023
From te Whare Paremata:
Te Iwi o Tūwharetoa, have expressed an interest in taking over the beleaguered Ruapehu Alpine Lifts (RAL).
The Government also announced Monday that it will stump up $5 million to the liquidators of RAL to ensure the mountain’s 2023 ski season can go ahead.
“The proposal from Te Ariki Tā Tumu Te Heuheu on behalf of Tūwharetoa is in addition to the expressions of interest received from Whakapapa Holdings and Pure Tūroa.” says Minister for Regional Development Hon Kiritapu Allan.
“The final decision in relation to the sale is made by the liquidator.
“The Government is now considering the three bids and I have asked MBIE to engage with the bidders to determine the best outcome for RAL’s creditors, the Crown, the local economy and community.
Ruapehu Alpine Lifts went into liquidation after creditors voted against a proposal to save the business operations of the North Island’s two main skifields, Whakapapa and Tūroa. The matter was heard at the Auckland High Court before Justice Christine Grice last week.
John Fisk and Richard Nacey of PWC have been appointed liquidators. The assets will be split into two companies, one for each of the North Island’s two main skifields, Whakapapa and Tūroa.
The Crown would take a 25% stake in both businesses.
“We’ve always been committed to finding a way to ensure the ski season on Mount Ruapehu goes ahead this year. Cabinet’s decision today has solidified that,”
“Ruapehu is a very significant part of the economy in the central North Island, accounting for around a tenth of regional GDP, or $100 million per year. The season going ahead will save hundreds of jobs and support local tourism, the regional economy and the community, while a long-term solution is found.
“This will provide workers on the mountain with job security and ensure businesses dependent on activities on and around the mountain have the certainty they need for the season ahead”. says Minister Kiritapu Allan
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