Echo Mountain Resort Files Chapter 11

The Denver Post reports that Pykkonen Capital filed Chapter 11 in Colorado last week listing approximately $1.45 million in unsecured debt to its top 20 unsecured creditors, comprised mainly of lenders.  Nora Pykkonen purchased Echo Mountain Resort in 2012 with plans to develop a private ski racing training facility.  She bought the 226-acre ski area in Clear Creek County and converted it into a private, membership-only training ground for school-age ski racers. She hired Olympic-level coaches and promised $5 million in upgrades. Ski clubs and university teams from across the country booked time and lanes. She sold memberships in her new Front Range Ski Club for $5,000. The plan was to grow a ski racing scene for Front Range skiers.  Pykkonen said she plans to restructure.