DOVER — Last winter’s tepid weather has led to an undisclosed number of layoffs at Mount Snow ski resort.
But resort administrators say they expect to hire back those employees soon. And they say the furloughs are not related to a $52 million cash crunch in the resort’s EB-5 foreign investor program — a problem that has slowed development of a new lodge and snow-making improvements.
The resort already has sunk more than $12 million into those projects while waiting for federal approval and release of the EB-5 funds, affecting cash flow for parent company Peak Resorts.
But when discussing the layoffs and EB-5 delays last week, Mount Snow President Dick Deutsch was adamant that “one has absolutely nothing to do with the other. One is on the development side … and one is strictly operational.”
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