SAM Magazine-Cable, Wisc., Sept. 15, 2010-Telemark Resort, a well-known cross-country resort that dates back to the 1940s, is being taken over by its bank via foreclosure, after a planned sale fell apart last spring. The foreclosure, said to be "friendly," is set to be complete in October.

Susan Wiik, vice president of the owners group, said the resort had not made a profit in the last 11 years.

The resort has been the site major local and national events, and these are expected to continue. They include the Fat Tire Festival in mid September and the American Birkebeiner cross country ski race in February.

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