Holiday camp firm Pontin's goes into administration

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Holiday camp firm Pontin's goes into administration

Post by GD on Fri 12 Nov 2010, 9:51 pm

Pontin's was set up in 1946
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Holiday camp company Pontin's has been placed into administration, the accountancy firm KPMG has said.
The company, which employs 850 people, runs five parks, all of which will keep trading as normal, KPMG added. No redundancies have been made.
In 2009, Pontin's announced a 50m plan to redevelop its centres but closed Blackpool Park.
The company's chairman before KPMG stepped in told the BBC the administration was "non-sensical".'Strong business'
Graham Parr said the business was profitable but had been a victim of the credit crunch and had gone into administration because its bank had withdrawn its support.
"The business is strong, it's going really well - we have 3,000 holidaymakers staying with us this weekend," he said.
"But the bank has simply said it is not prepared to support our credit facilities any more. It's very annoying and the most non-sensical business situation I have ever been involved in."
Mr Parr, who has been involved with Pontin's on and off since the 1960s, said he and his partners fully intended to "get back in [to the business] and get it sorted."
BBC business correspondent Joe Lynam said the company had suffered in a very competitive market place, with operators such as Butlins and Havens more successful in taking advantage of UK holidaymakers' desire for budget getaways during the downturn.
Pontin's, known for its Bluecoats entertainers, was established in 1946 and at its height owned more than 30 parks.
It was bought by Oceans Park for 46m in 2008.
The five sites left are at Brean Sands, in Somerset; Camber Sands, in Sussex; Pakefield, in Suffolk; Prestatyn Sands, in Denbighshire; and Southport, in Merseyside.'Iconic brand'
KPMG said it was in the process of appointing an experienced leisure operator to the company in order that it can "continue trading and ensure that guests' holiday expectations are met".
It added that it intended to honour all reservations.
"Pontin's is an iconic British brand which forms the backdrop to thousands of treasured family holiday memories," said Jane Moriarty, joint administrator at KPMG.
"It has unfortunately struggled in the current economic environment but, with some support from new management, we are optimistic that it will be part of thousands of family memories in the years to come."
The administrators have set up a helpline number for customers, which will be open from Monday 15 November. It is 0844 576 8481. (from BBC)


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Re: Holiday camp firm Pontin's goes into administration

Post by Thistle on Sat 13 Nov 2010, 10:53 pm

its not good when these places are closing..willit b e butlins next x
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