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.
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