CONCORD – State Sen. Jeb Bradley said he was “astounded” to learn that Purdue Pharma’s Sackler family is now the majority owner of Peak Resorts, which includes three New Hampshire ski areas and 14 others in the country.
One of the three – Attitash in Bartlett is in Bradley’s district and Wildcat Mountain in Pinkham Notch is just outside his district, but still important to the Mount Washington Valley, Bradley said. The third is Crotched Mountain in Bennington.
The Sackler family’s Purdue Pharma is being sued by numerous state and local officials, including New Hampshire, for allegedly using deceptive practices to sell its highly addictive OxyContin pain killer and fueling the opioid epidemic. The mounting lawsuits have created speculation about the potential for bankruptcy.
“My concern at this point if they are facing bankruptcy, what does it mean to two institutions if you will in the Mount Washington Valley – Attitash and Wildcat and the people who work there, the people that vacation there,” said Bradley, R-Wolfeboro.
“In Attitash’s case, the people who own condominiums there in that area, what does it mean?”
Bradley said the possibility of a Sackler bankruptcy could mean real uncertainty in the Mount Washington Valley. He learned about the development from InDepthNH.org, although it occurred in November, according to records on file with the Securities and Exchange Commission.
It was first reported last week in Vermont news outlets because Peak Resorts owns Mount Snow in Dover, Vt.
According to the SEC, 55 percent of Peak (NASDAQ:SKIS), was purchased Nov. 21, 2018, owned by CAP 1, Dr. Richard S. Sackler Foundation and David Sackler, his son.
CAP 1 is a Delaware-based trust in which Richard Sackler and his ex-wife are beneficiaries. CAP 1 controls 53.4 percent of Peak, according to the filings. Richard Sackler is Purdue Pharma’s former president.
Attempts to reach officials at Attitash were unsuccessful. Peak, based in Wildwood, Missouri, “is a leading owner and operator of high-quality, individually branded U.S. ski resorts.”
The company operates 17 ski resorts primarily located in the Northeast, Mid-Atlantic and Midwest, 16 of which are company-owned. The majority of the resorts are located within 100 miles of major metropolitan markets.
Bradley said the Sackler involvement in Peak Resorts is an important development.
“I think it could be pretty significant consequences,” Bradley said. “The fact that it is such a surprise has really taken people I think here off guard.”