Ragged Gets Reprieve

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Publish Date

03/13/2007

SAM Magazine - Ragged Mountain, NH, March 11, 2007 - With Bankruptcy looming, the owners of Ragged Mountain, NH got a some breathing room as the seek to sell the resort. The mountain, owned by Al and Walter Endriunas was on the brink of filing for Bankruptcy last week after defaulting on a $4.75 million loan from Endeavor Financial Services LLC last January. With foreclosure imminent, the Endriunas brothers were able to convince the courts that the sale of the resort was in the works, and were given 30 days to consummate the deal. With the resort valued at approximately $20 million, any deal will be a good one for the Endriunas' as it is likely that they will easily be able to settle with Endeavor Financial and also pocket some cash to boot.

Comments

Time to build some condos...

I gotta belive if the local town grants them permission to build condos to sell, they could make it all back. I heard that their golf course is top notch! If they leased their golf course to Okemo, maybe they could pay some bills.

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