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Holiday Firm Pontin's, Is Taken Into Administration

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http://www.bbc.co.uk/news/business-11748317

Holiday camp company Pontin's has been placed into administration, the accountancy firm KPMG has said.

The company, famous for its Bluecoats entertainers, currently runs five parks, all of which will continue to trade as normal, KPMG added. No redundancies have been made.

In 2009, Pontin's announced a £50m plan to redevelop its centres but was forced to close Blackpool Park.

Pontin's was established in 1946 and employs 850 people.

It was bought by Oceans Park for £46m in 2008.

Another bites the dust?

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I have to say I'm surprised by this. It's understandable when tour operators which specialise in foriegn holidays go bust as people cut back on holidays abroad. But something like pontins you would think would hold it's own during tough times as people opt for cheaper uk based breaks.

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I have to say I'm surprised by this. It's understandable when tour operators which specialise in foriegn holidays go bust as people cut back on holidays abroad. But something like pontins you would think would hold it's own during tough times as people opt for cheaper uk based breaks.

Just shows how bad things are IMPO - Brits are not even staycationing.

Who will advertise on the back of the Christmas Radio Times now!?

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are they cheap though.

They've been running on empty for years. The parks are absolute dumps with no investment for decades. Same old story managing a turnover whilst propped with the banks money. Once thats gone its over. What the park needs is someone to make a substantial financial input like business investers use to. That was never going to happen whilst the banks where a easy target.....

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I have to say I'm surprised by this. It's understandable when tour operators which specialise in foriegn holidays go bust as people cut back on holidays abroad. But something like pontins you would think would hold it's own during tough times as people opt for cheaper uk based breaks.

Those that usually go to Pontins stop going if they have to cut back. Those that usually go abroad probably think Pontins is a bit naff.

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Graham Parr said the business was profitable but had been a victim of the credit crunch and had gone into administration because its bank had withdrawn its support.

Same as happened to my last employer, all of a sudden the bank just say "Stop!"

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....

Who will advertise on the back of the Christmas Radio Times now!?

Collectable plates with cute little doggies and princess Di on them. Old spongers love that kind of sh1t and spend all their pension on it. The entire economy of Estonia is based on making these items and the Estonian government holds annual competitions to come up with the best design to incorporate Madeleine and Jedward but still have cute kittens as well. The winner gets a free Soviet era flat with Bakelite windows and a view over the Russian submarine recycling yard (Marina to you comrade). These people dream of going to Pontins but can't stand the sh1t English food.

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Just shows how bad things are IMPO - Brits are not even staycationing.

Who will advertise on the back of the Christmas Radio Times now!?

You have to put things into perspective. A pint of beer in Blackpool is going to be about the cost of pint of beer in this country. The cigarettes you'll be smoking will be about the cost of some cigarettes in this country, black market prices are the same in blackpool as they are elsewhere.

The lower classes have only so much income, the majority of which goes on rent.

.

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Has a firm of Administrators ever been taken into Administration?

These are happy happy times for Administrators.

Re the OP: We go abroad for a family holiday once a year, but also do one in the school summer hols. We tried a caravan park nr to Yarmouth. Never again - felt out of place without tatoos, a tabloid under the arm, and an Addidas top. We joked we were trailer trash for the week and we're now Leroy and Brandene.

Friends of ours went to one near Scarborough a this summer - they left 2 days early and she described it as a 'chav infested hellhole'.

Thing is though, they're not cheap. A week in Scarborough cost our friends £700 because it was the school hols. They can only charge so much because the nearest competition, holiday flats and apartments, in the UK are often £500+ per week because of stupid property prices.

All those flats thrown up in our holiday resorts at bubble prices, bought by BTLers, and hawked out out at ridiculous rental prices for cool damp Britain are seriously distorting the holiday market.

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In these days of people watching their pennies companies like Pontins should have survived. The Norfolk Broads enjoyed a massive increase in visitors this year and expect even better results next year. The past 17 years all my holidays have been on my boat on The Broads and I never tire of it. When my Passport expired in 1996 I noticed that the cover of the new current passport contained the words European Union instead of Great Britain and Northern Ireland. :angry: From that time onward I decided not to renew or hold a British Passport. ;)

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In these days of people watching their pennies companies like Pontins should have survived. The Norfolk Broads enjoyed a massive increase in visitors this year and expect even better results next year. The past 17 years all my holidays have been on my boat on The Broads and I never tire of it. When my Passport expired in 1996 I noticed that the cover of the new current passport contained the words European Union instead of Great Britain and Northern Ireland. :angry: From that time onward I decided not to renew or hold a British Passport. ;)

I did have a very good broads hol in 2002 on a big 10 berth. And a fantastic canal hol (Leeds-Liverpool over the Pennines) in 2007. They're much better than caravan parks.

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Has a firm of Administrators ever been taken into Administration?

They mostly tend to be divisions of big accountancy practices.

Enron effectively took Arthur Anderson under - that's the biggest I can think of in recent times.

__________________

Edit to add:

Looks like it's Bi-De-Bi! for Pontins

Edited by Soon Not a Chain Retailer

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In these days of people watching their pennies companies like Pontins should have survived. The Norfolk Broads enjoyed a massive increase in visitors this year and expect even better results next year. The past 17 years all my holidays have been on my boat on The Broads and I never tire of it. When my Passport expired in 1996 I noticed that the cover of the new current passport contained the words European Union instead of Great Britain and Northern Ireland. :angry: From that time onward I decided not to renew or hold a British Passport. ;)

been out of Wroxham a few times ,but the last time I got fed up of being in convoys..nose to tail ..... until I put a bit of mileage in ...

Want a really good canal trip , try France , I went up the River Lot ..(on a broads cruiser)... electric locks ,well maintained canal sides , and your lucky if you see two or three boats in a day (english crewed) , the French don't seem to do canal cruising much (canal du midi is busy though , but not as busy as the broads) ...excellent holiday

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They mostly tend to be divisions of big accountancy practices.

Enron effectively took Arthur Anderson under - that's the biggest I can think of in recent times.

__________________

Edit to add:

Looks like it's Bi-De-Bi! for Pontins

Private Eye have been wobbling on about one that went under quite recently. Can't remember the name.

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There are of thousands of companies like Pontin's.

Over the past 10 years plus the banks have knocked on their doors and lent them money they do not need, did not want, to expand into areas they did not understand.

The banks made billions in mergers and aquisition fees whilst the businesses found themselves with new management only with the interest of lining their own pockets.

The additional benefeciaries were the solicitors who handled the m&a, the accountants, the insurance brokers, the equity teams and then again the banks who having lent the money for the trade, continue charging interest on the loans.

Meanwhile manufacturing uk has contracted. Anything basically north of the Watford Gap has been ignored.

We are all in this together. We ought to have let the banks go down. Yes the savers would have lost everything but we would be on the road to recovery now.

Ever wondered why Germany did so well after WWII? They went bust. We honoured our loans and never recovered, nor will we ever.

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Same as happened to my last employer, all of a sudden the bank just say "Stop!"

Indeed.

People think the banks look at individual cases and decide.

WRONG.

their clever "analysts" decide which sectors are at risk...so they go, "ah we have a recession, so that means less trucking, less holidays less computers, less warehousing..so, anyone in that sector that needs a new loan, an extension, some help....no...reduce their overdrafts, mark up any loans if you can, and just say no".

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Hidi Hi, Bidi Bye

0r was that Butlins.

Best I can do on a saturday morning...

Maplins....whoops, there goes another electrical retailer.

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With the accountants in charge what will the holidays be like? (the advice for those who have booked is to continue)

at least you will get a guaranteed and audited check on the quantity of beans at breakfast...maybe no meat on the bacon, but beans on toast will be numerically correct, uncooked maybe, but all there, ready to be consumed.

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