Mon, 19 Dec 2016 | ADMINISTRATION
Administrators appointed to a collapsed holiday and residential park operator are seeking a buyer for the business.
Lifestyle Living UK, one of the biggest independently-owned park operators in the country, is to trade as a going concern and will operate as normal, FRP Advisory said.
The operator, which largely caters for the over-50s market, has parks across Suffolk, Norfolk and Cumbria and employs about 50 people, is understood to have suffered a squeeze in income, the Times reported.
Jason Baker, joint administrator and partner at FRP Advisory, said interested buyers have already been in touch. “We have engaged with interested parties and invite others to make early contact,” he said.
“Our priority is to maintain the day-to-day operations of the caravan parks to ensure that customers and users continue to enjoy the products and facilities offered by Lifestyle Living.
“We continue to trade the business and ensure that the holiday and residential parks operate as normal while actively marketing the business for sale.”
While news of Lifestyle Living UK’s administration is cause for concern, some commentators have suggested that Brexit will lead to a 'staycation' boom following sterling’s drop. This has led some overseas firms to eye UK caravan parks and campsites, expecting an increase in demand for holidays in Britain.
Recently, for example, Canadian private equity house Onex Corporation is understood to have paid £1.35 billion to acquire Parkdean Resorts, Britain’s largest caravan park operator. The deal will give Onyx ownership of 73 holiday parks in England, Scotland and Wales.
Contact the administrator here
Find the latest businesses in administration.
The company offers mobile hydraulic hose replacement and breakdown services across the UK, and is equipped with workstations capable of meeting any client’s needs. The business has developed a strong reputation for responding to urgent call-outs with...
The business is one of the largest independent garages in the region and is an RAC- and AA-approved car servicing provider. With highly trained technicians meeting IMI standards, the company offers comprehensive car and van services for various manu...
The business has developed an industry-recognised application that is tailored to the letting industry, serving independent agents and landlords. The application streamlines property management tasks such as marketing, compliance, accounting, and mai...
29
|
Mar
|
Caravan and motorhome retailer acquired out of administration | BUSINESS SALE
Administrators have completed the sale of a caravan and moto...
29
|
Mar
|
Financial planning business acquires Staffordshire company | BUSINESS SALE
Wren Sterling, a national financial planning business, has c...
28
|
Mar
|
NI pharmacy group acquires third site | BUSINESS SALE
A family-run community pharmacy group has expanded with the ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.