Tue, 10 Dec 2013 | ADMINISTRATION
Flambards, a theme park in Cornwall, has been bought after its bank placed it into administration on Friday.
Despite being placed on the market in May, a sale to Livingstone Leisure Ltd has only just been secured for the troubled theme park.
Being on the market for so long and heading for administration took its toll on the business, and 19 jobs were cut and a further nine employees had their hours reduced.
Timothy Smart, of Stratton Creber Commercial, played a role in the sale and said: “In simple terms they couldn’t afford to trade any longer and the bank decided to look at their overall structure and finances and put them into administration.”
Now closed for the winter months, the new owner will reopen the site at Easter after refurbishing the attraction, which had been previously owned by the Kingsford-Hale family since 1976.
The staff have yet to hear if they will keep their jobs or if they will be replaced under the new ownership. The new boss - and founder of aquariums business Blue Reef Leisure Ltd - Mr Cunningham, told This is Cornwall: “We will of course aim to carry out a full review of requirements going forward very shortly.”
Once called the Cornwall Aero Park and one of Cornwall’s largest attractions, the site comprises 27 acres of rides, museums and all-weather facilities. Visitor numbers to Flambards had actually picked up during 2012.
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