Tue, 18 Oct 2011 | ADMINISTRATION
Administrators are assessing the future of caravan and motorhome retailer, Discover Leisure, after it fell into administration on the weekend.
The company - which employs around 250 staff at sites across the North of England - is understood to have been seeking investment to keep it running in recent weeks, but had to enter administration after the funds could not be found.
Administrators, Mark Firmin and Paul Flint of KPMG, are said to be seeking a buyer or buyers for the business, but have closed down operations in the short term while they undertake their search for offers.
"Discover has faced a difficult market over an extended period of time, with persistently depressed consumer demand for high value discretionary items in particular," explained Mr Firmin, who is KPMG's head of restructuring for the North. "While it is regrettable that we have had to close the dealerships over the weekend, we are working towards a solution to rescue some or all of the business."
The business underwent a debt restructuring in 2009 but warned its customer base earlier this week that it was struggling with weak consumer sentiment.
Serving blue-chip data management and security technology clients across the globe, this disruptive software development company provides tools and services to assess, repair, and recover, and migrate enterprise backup products.
Operating internationally, the company delivers tailored electrical distribution and control solutions to public and private sector clients across a wide range of industries.
This substantial 43-bedroom urban hotel, situated just 5 miles from Newcastle city centre, offers an exceptional investment opportunity with its prime trading location and extensive public areas, including a popular bar and refurbished function room.
FREEHOLD
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.