Intrawest is in trouble. Creditors are forcing the sale of many of its assets, including Whistler-Blackcomb and Tremblant, in a mass auction during the Olympics. Foreclosure began this week on Intrawest ULC, which recently missed a $524-million payment on its gigantic $1.4 billion debt...

Creditors placed advertisements in the New York Times and Wall Street Journal this week, announcing the sale of many major Intrawest assets, including Whistler-Blackcomb, Tremblant, Vermont's Stratton and California's Squaw Valley, at an auction scheduled for February 19, 2010, in the midst of the Olympics.

The chances of the 2010 Olympics--being held in part on Whistler Mountain--being affected are "miniscule" a spokesman has told the Toronto Star. "There is a small chance," said Dan Doyle, executive VP of venue construction for the Games. "It's miniscule. Smaller than small. I don't think it's a problem at all."

Photo: Amber Turnau courtesy of Whistler-Blackcomb.