Sat, 19 Jan 2019 | ADMINISTRATION
An Essex-based company which operates eight luxury lodge parks throughout the South of England has fallen into administration.
Professional services firm Deloitte have been called in to handle the administration process for Walsham Chalet Park Limited, which trades under the name Dream Lodge Group. Restructuring partners Richard Hawes and Rob Harding have been appointed as joint administrators.
The partners cited “immediate funding constraints and seasonality of the business”, as well as a “period of financial pressure” as the reasons for the business entering administration.
Despite this, the administrators have said that the lodges will continue their services whilst a potential sale is being explored.
Hawes said: “[Although] it is no longer possible to continue to operate the business in its existing format […] whilst a sale is explored, all lodge parks will remain operational.”
The Group manages the Lazy Otter Meadows in Ely, Blosson Hill Park in Devon, Woodlands Park in East Sussex as well as The Sanctuary in Berkshire. It attracted the interest of investors with promises of personal use of the lodges, and either a fixed rental income or a profit after three years of operation.
It realised its declining financial situation in October 2018, when auditors from KPMG were invited to find new investment or a buyer for the business.
As a result of the administration, the Dream Lodge Group has told its investors that they will receive a “guaranteed return” on their investment, after costing them millions of pounds due to its collapse.
Potential buyers are invited to express their interest immediately.
Click here to view the Walsham Chalet Park Ltd administration listing for full details.
For more news stories about administrations click here. For all our administrations listings, click here.
Fully refurbished, extensive detached property. 3 Bed self-contained owner's accommodation. Great reputation with regular and repeat trade. Multiple income streams - Live music venue. Successful & widely renowned theme nights. Offers invited.
FREEHOLD
Floodlit golf driving range. 9 hole golf course. Clubhouse with F&B and gym (c. 4,500 sq ft). Highly profitable business. Offers invited.
LEASEHOLD
Well-established event management company, offering a comprehensive range of services encompassing the management and delivery of all aspects of conferences and events, as well as award ceremonies, galas, sales kick-offs, and product launches. Servin...
|
16
|
|
Oct
|
Automotive supplier completes MBO | MBO/MBI
An automotive products supplier located in South Yorkshire h...
|
15
|
|
Oct
|
Tomlinsons Dairies falls into administration | ADMINISTRATION
Wrexham-based dairy firm Tomlinsons Dairies has announced to...
|
14
|
|
Oct
|
PE firm snaps up independent video game firm | BUSINESS SALE
Private equity firm NorthEdge Capital has successfully acqui...
Sign up to receive our acquisition alert emails to get your FREE guide
|
11
|
|
Oct
|
Administrators called in for Links of London | ADMINISTRATION
The most recent company to fall victim to the tough trading ...
|
26
|
|
Sep
|
Company behind the ‘Boris Bus’ enters administration | ADMINISTRATION
Wrightbus, the manufacturer behind the revived Routemaster a...
|
28
|
|
Aug
|
Buyer sought for Links of London | BUSINESS SALE
The Folli-Follie Group (FF Group) has announced today that i...
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