HIE owns Cairngorm Estate and had leased the resort to operator Cairngorm Mountain Limited (CML), which went into administration on 29 November 2018.
The agency established a new subsidiary and has now reached agreement 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 new company will honour season tickets purchased for this winter season.
HIE 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 added:
“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 snowmaking 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 added: “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.”