Hopes raised over future of Pontin’s
HOPES grew yesterday for the future of the Pontin’s holiday camp chain as administrators confirmed they had received 10 firm offers.
The administrators from accountancy firm KPMG said that they were confident of securing a sale in the next few weeks having invited initial bids for Pontin’s.
The company called in administrators in November, but all five of its sites – at Pakefield, near Lowestoft, Brean Sands in Somerset, Camber Sands in Sussex, Prestatyn Sands in north Wales and Southport, Merseyside – are continuing to run as normal.
KPMG said most bidders were interested in keeping the business going and retaining the Pontin’s brand.
However, the administrators warned creditors that they were unlikely to receive enough money from the sale to pay the full �3.6million owed to them.
Rob Croxen, one of the joint administrators at Pontin’s and restructuring director at KPMG, said: “All employees, customers, suppliers and the various stakeholders involved in Pontin’s have rallied throughout the administration process.
“Clearly this is a tough time for all concerned, but the level of support really reflects the goodwill the brand has earned over its long history.
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“We have received a great deal of interest in the business and should be in a position to make an announcement on the sale of the business in the coming weeks.”
KPMG also said yesterday that it had paid all wages for Pontin’s 850 staff and pension contributions were up to date. It added that there had been a “significant” number of new bookings for holidays this year.