In 2022 following a poor snow season attributed largely to climate change, Ruapehu Alpine Lifts, the parent company of both Whakapapa and Turoa skifields, entered voluntary administration in an attempt to avoid bankruptcy. The company is a not-for-profit business that was established by members of ski clubs in 1953. In August 2022, Ruapehu Alpine Lifts laid off 130 workers and its total debt climbed to over NZ$30 million. The financial situation of Ruapehu Alpine Lifts deteriorated rapidly following disruptions from the COVID-19 pandemic. Efforts to secure additional funds from investors or the New Zealand government initially failed.
