More than half of Skyline Enterprises' 1200 staff, spread across New Zealand and at its international sites, will be made redundant. Skyline Enterprises operates the Queenstown gondola and luge, and similar operations in Rotorua, along with luges in Singapore, South Korea and Canada.
It also has property interests in Queenstown, Dunedin and Christchurch. Skyline started consulting staff a fortnight ago. Staff and shareholders were informed of redundancies yesterday.
Property company manager Augusta Capital is intending to raise $45 million from investors to pay back debt and stabilise the business.