The second season of 1980–81 was a very poor snow year, with only three days of skiing, and the fledgling ski area filed for Chapter 11 bankruptcy protection in August 1981. Auctioned off two years later and acquired by Rainier Bank, it was purchased for $550,000 in October 1983 by Portland executive Stan Goodell, a former president of the ski patrol at Mount Hood. To distance itself from the past financial difficulties, Goodell renamed it "Ski Bluewood" and relocated to Dayton to run the area himself.