TUCKER COUNTY, W.Va. — An Indiana ski resort has purchased Timberline Four Seasons, with plans to reopen the property for the 2020-2021 ski season.

Perfect North Slopes, in Lawrenceburg, Indiana, made the second-highest bid in an auction held Tuesday in Philadelphia. First Asset Holding placed the winning bid of $2.2 million but agreed to transfer the bid to Perfect North Slopes for $30,000.

Timberline filed for Chapter 11 bankruptcy protection in April.

Joe Stevens, director of the West Virginia Ski Areas Association, called Wednesday’s announcement “great news for the ski industry in West Virginia.”

“What it probably means that some of the best skiing and snowboarding terrain in West Virginia will stay available for skiers and snowboarders. Probably not for this season, but moving ahead, some of the best terrain will stay available for skiers and snowboarders,” he said.

Skiing at Snowshoe Mountain Resort opens this coming Friday. Opening day at Canaan Valley Resort is scheduled for Dec. 14.