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AUBURN, Maine (NEWS CENTER) -- One of Maine's oldest ski resorts is in jeopardy of closing it's ski operations unless it gets a new line of credit.

Officials at Lost Valley Ski Resort in Auburn says it doesn't have the funds to get the ski hill ready for the upcoming winter ski season.

The owners are waiting on a report from Efficiency Maine which conducted an audit of the property. The 200 acre property has a base lodge and two chairlifts,was built in 1961. The resort can't apply for a new line of credit until they have the report and time is running out.

If ski operations close, banquets and other non-ski function would continue at the resort's base lodge.

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