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Last Updated: Friday, 3 September, 2004, 13:35 GMT 14:35 UK
Buy-out saves Glenshee ski centre
Glenshee Ski Centre
Glenshee went into administration in May
One of Scotland's main ski centres has been saved by a management buy-out.

The news that Glenshee will have a future has been greeted with delight and relief by neighbouring communities.

A spokesman for the group told the BBC that they were "delighted" an agreement with the centre's receivers, KPMG, had been reached.

The Glenshee resort was put up for sale after suffering a drop in business because of a lack of snow. Its sister centre at Glencoe was sold in June.

The group taking over is led by the resort's operations manager Graham McCabe.

Graham McCabe
We are just glad that we have managed to secure a continued skiing operation here
Graham McCabe
He said the deal would secure six full-time jobs and up to 120 seasonal posts.

"Apart from that, the big positive has to be the continuation of skiing here at Glenshee.

"That brings a lot of winter enjoyment to a lot of people in this area," he said.

He said the deal had almost fallen through on Thursday over the lease of the land.

"It was touch and go. We were at the 12th hour, but we managed to pluck a deal out at the last minute so we are just glad that we have managed to secure a continued skiing operation here."

The resort operator, the Glenshee Chairlift Company, which also ran the Glencoe centre, went into receivership in May.

The resorts, which were put up for sale in February, suffered combined losses of approximately 1m in 2002/03 and 2003/04.

The chairman of Braemar Community Council, John Macpherson, said the take-over was "excellent news and a "huge relief".

Hope for Glenshee ski centre
14 Jul 04  |  Scotland
Ski resort under new ownership
30 Jun 04  |  Scotland
Ski resorts sale deadline passes
25 Jun 04  |  Scotland
Hopes for Glencoe centre deal
03 Jun 04  |  Scotland
Ski centre firm in receivership
06 May 04  |  Scotland
Ski centres up for sale
13 Feb 04  |  Scotland

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