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Andrew Smith
A structural problem has closed the funicular since early October
The company that operates the CairnGorm Mountain funicular and snow sports center has been assigned to an administration.
The directors said that they would continue trading in the hope of selling the company and the assets as a business in operation.
They said there was no immediate plan to lay off the company, which employs about 70 people.
A structural problem has closed the funicular since early October.
Joint Trustees Blair Milne and Derek Forsyth of Campbell Dallas said Cairngorm Mountain Limited (CML) faced "unsustainable cash flow problems".
The winter sports center and funicular belong to Highlands and Islands Enterprise (HIE) and are operated on its behalf under a 25-year lease agreement with CML, which is part of the company Leisure and Travel Natural Retreats.
Cash flow
Mr. Milne stated that the extended closure of the funicular meant that the company had become "unsustainably deficient".
"The company directors had been engaged in discussions to find appropriate solutions, including a managed transfer of the company to another party, but these negotiations have not progressed.
"Due to the increase in liquidity and pressure from the creditors, the directors had no choice but to entrust the company to the administration.
"The co-administrators will try to sell as soon as possible the remaining activities as soon as possible".
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CairnGorm Mountain
The funicular transports a large number of lovers of snow sports on the slopes
The funicular, built at a cost of £ 26 million, opened in 2001. It carries around 300,000 visitors each year.
However, it has been closed for several months because of structural problems supporting the tracks.
Specialist engineers carried out a detailed structural evaluation.
Although they had to report at the beginning of December, they postponed the publication of "until two weeks", because of problems encountered during testing due to high winds and extreme cold.
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Pennsylvania
The railway is a key element of the center of snow sports
Tourism businesses in the region have already expressed concern about a prolonged closure affecting access to winter sports activities.
HIE had said last month that she was looking for a quick fix of the problem.
Executive Director Charlotte Wright said, "Our first priority is for staff members and their families, as well as other local people who will be affected by this decision.
"We are already in direct contact with the administrator and are confident that CairnGorm will remain open to business.
"Clearly, this is not the result desired by anyone when CML has become the operator.However, with the help of the local community, we are confident that the situation can be reversed and we will see Cairngorm again become a fantastic asset to this region, its economy and its people. "
CairnGorm Mountain: Challenges and Opportunities
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Natural Retreats
Artist view of a CairnGorm Mountain reorganization project
Located high in the Cairngorms near Aviemore, CairnGorm Mountain and its funicular belong to the Highlands and Islands Enterprise since 2008.
In 2010, MSPs blamed HIE for failures that led to higher construction and operating costs for the railway.
HIE provided £ 19.42m to cover the £ 26m funicular inaugurated in 2001.
Wilmslow-based Natural Retreats bid for a 25-year lease to operate CairnGorm Mountain in 2014. The company operated the site through CairnGorm Mountain Ltd.
The following year, Natural Retreats began consultations on a redevelopment of the center estimated at £ 15 million.
However, over the years, he has been criticized for his operation of the snow sports center, particularly for his decision to remove ski lifts from an area called Ciste.
Last year, Aviemore Business Association announced a proposal to organize the purchase of CairnGorm Mountain by the community.
This year, a structural problem caused the funicular to stop and the publication of a vision including the addition of new ski lifts and rollercoasters. HIE said that achieving the ambitions outlined in the vision would require an investment of £ 27 million.
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