SAM Magazine—Denver, Aug. 8, 2016—After filing for bankruptcy in February, Echo Mountain owner Nora Pykkonen appears to have found a buyer for the small ski area just outside of Denver.

Echo is under contract to be sold to SkiEcho, LLC for $3.8 million. SkiEcho is managed by 27-year-old Peter Burwell, son of the late Rod Burwell, a Minnesota philanthropist who owned several hotels in Aspen. Peter is listed as CEO of the family's Burwell Enterprises, a private company that owns a diverse set of businesses.

As SAM reported in February, Pykkonen purchased Echo in 2012 and initially opened the 226-acre facility as a private, membership-only training area for school-aged ski racers. When that model didn't work, she eventually opened it to the public in 2014. After falling behind on mortgage payments, Pyrkkonen filed for chapter 11 bankruptcy protection in February, but still operated the resort through the winter. She has been seeking a buyer since April 2015.

According to court documents, the sale price would pay back all the secured and unsecured creditors. The deal would include 226 acres and all the facility's equipment, including snowmaking machines, snow cats, and the chairlift. A sale would have to be approved by the bankruptcy court.

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