Drayton Manor Park

Staffordshire theme park ‘rescued’ by French leisure company

The new owner is Looping Group, which runs aquariums, animal parks, amusement parks and water parks in seven countries. Drayton Manor Park has been rescued by a French leisure company after falling into administration. The Bryan family is selling the Staffordshire attraction for the first time in its 70-year history after appointing administrators PwC on Monday. The future of the theme park and its 599 employees will be secured by the deal. The new owner is Looping Group, a French business which runs 15 parks – aquariums, animal parks, amusement…

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Bullring Bull

Coronavirus: shopping centre owner Hammerson plots £600m rights issue

The company is in talks to sell its 50% stake in VIA Outlets, a portfolio of European shopping destinations, Sky News learns Britain’s biggest listed shopping centre-owner is preparing to ask shareholders for hundreds of millions of pounds to improve its chances of surviving the coronavirus pandemic. Sky News has learnt that Hammerson, which owns the Bullring in Birmingham and London’s Brent Cross mall, is drawing up plans for a rights issue that could raise more than its current market capitalisation. One investor said this weekend that Hammerson could seek…

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Croydon high street (Pizza Hut). Photo by Oliver Needham on Unsplash (1)

Coronavirus: Jobs at risk as Pizza Hut puts CVA on menu

A CVA would make Pizza Hut the latest chain to resort to a formal restructuring, Sky News learns Pizza Hut has become the latest restaurant chain to put a financial restructuring on the menu by hiring advisers to explore the possibility of an insolvency agreement that could entail significant job losses. Sky News has learnt that Pizza Hut Restaurants, which employs thousands of people in Britain, has instructed Alvarez & Marsal, the professional services firm, to examine the merits of a company voluntary arrangement (CVA). Sources said that a final…

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