Semiahmoo sale falls through, buyer misses deadline

Published on Wed, Feb 9, 2011 by By Jeremy Schwartz

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The sale of the Semiahmoo Resort and Semiahmoo and Loomis Trail golf courses has fallen through after the buyer could not come up with the money by the agreed upon deadline.

The sale, which was scheduled to close on February 15, would have put the 300 employees of the resort and golf courses in danger of losing their jobs when the properties switched hands from Semiahmoo Resort, owned by the Upper Skagit Tribe and the Trillium Corporation, to Armada Investments.

The resort had previously notified all employees their positions would be terminated effective February 15.

Harry Chesnin, the attorney for the Upper Skagit Tribe, said the employees’ jobs are safe and the resort will continue to operate as if nothing happened.

“It’s back to business as usual,” Chesnin said.

Chesnin said a notification was posted at the resort last Thursday telling employees that they would not be let go. Semiahmoo employees had received a letter notifying them of their termination on December 14, while the sale was still pending.

Chesnin would not comment on the sale, but said Armada Investments could not provide the funding. Semiahmoo Resort LLC is not seeking any other buyers for the property.

Representatives from Armada Investment could not be reached before press time. Chesnin declined to provide any contact information for the investment company.

The resort opened in 1987 as one of Washington’s largest year-round resorts. The Arnold Palmer-designed Semiahmoo golf course opened a year earlier. The Upper Skagit Tribe bought into the resort in 2003.