Mt Ruapehu ski fields enter voluntary administration

Mt Ruapehu ski fields have gone into voluntary administration amid a challenging few years due to the Covid-19 pandemic and poor weather conditions.

It follows the resolution of the directors of Ruapehu Alpine Lifts Limited (RAL), which operates the Whakapapa and Tūroa ski fields in the central North Island.

PwC's John Fisk and Richard Nacey have today been appointed as voluntary administrators of RAL.

“The Company has had a very difficult last three years, with the impact of Covid-19 restrictions, paired with poor weather this season, meaning that the business has been placed under significant cash flow pressure," voluntary administrator John Fisk said in a statement.

Fisk said RAL's directors "explored a number of options, including a capital raise and a request for additional Crown funding, but have not been able to secure the required level of capital".

"As such, the Directors made the decision to appoint Voluntary Administrators. The Voluntary Administrators will now continue to trade the business while we look to determine the most appropriate way forward to maximise recoveries for creditors.”

An initial report into the company's financial state will be tabled to creditors shortly.

Fisk said Whakapapa "will continue to operate as planned, weather permitting" through to the season's closure, which is estimated to be around October 24.

"The three T bars – Valley, Knoll, and Far West – will be running, along with the Sky Waka gondola for access and sightseeing."

The company currently employs 196 staff across the ski fields.