HIE confirmed as new owner of Cairngorm Mountain resort

Highlands and Islands Enterprise is to resume control of operations at Cairngorm Mountain with immediate effect, it has just been confirmed.

HIE owns the Cairngorm Estate and had leased the resort to the previous operator Cairngorm Mountain Limited which went bust at the end of last month.

The agency established a new subsidiary and reached agreement this afternoon with the joint administrators, Blair Milne and Derek Forsyth, partners with Campbell Dallas, to acquire the business and assets of CML.

Staff and other assets will transfer to the new company which will trade as Cairngorm Mountain (Scotland) Limited.

The move safeguards the 70 jobs on the hill and employment in the wider economy this winter.

It is also good news for skiers and snowboarders who had bought discounted earlybird season tickets for this coming winter sold by the Natural Retreats operation.

HIE has said that the new company will honour all ski season tickets already purchased.

The agency has contracted support from accountancy firm, Scott Moncrieff, to include a business turnaround specialist as interim chief executive to run the firm until the end of March.

Charlotte Wright, HIE chief executive, said engagement with local business and community groups will continue to be important going forward.

She commented: “We are very pleased to have worked with the administrators to achieve a really positive outcome from a highly challenging situation.

"The deal that we’ve reached will protect jobs and bring stability to the business which plays an important role in the wider local economy.

“The immediate focus of the new operating company is to ensure the best possible experience for visitors this winter, particularly while the funicular is inactive, and bring some stability for staff and local businesses that rely on Cairngorm.

"This includes operating the new snow-making equipment and ski tows, as well as catering and facilities at the base station.”

Blair Milne, joint administrator and business recovery partner with Campbell Dallas, commented: “We are pleased to have secured an early sale of the business and assets of CML.

"The deal ensures continuity of operations and employment at Cairngorm Mountain and we would like to thank all parties for their support as we worked towards securing a going concern sale.”

HIE has said it is not disclosing the price paid for the business at this time.

A report into the safety issues which have closed the £20m Cairngorm funicular is due to be presented to HIE next week.

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