BOLTON LANDING -- The new owner of one of the Adirondacks' biggest resorts is laying off up to 200 employees and shutting down its main operations for the winter.

Sagbolt LLC, a subsidiary of Delray Beach, Fla.-based Ocean Properties Ltd., said Monday that The Sagamore resort on Lake George will close from Jan 4. through March because of the weak economy.

General Manger Tom Guay told the Post-Star of Glens Falls the resort usually scales back its seasonal staff of 100 to 200 for the winter, but he wouldn't comment on the exact number of layoffs. The resort employs about 600 during the summer.

The Sagamore operated on weekends during past winters and initially planned to do the same this season.

Ocean Properties cut dozens of jobs when it purchased the resort in August.