Billing Aquadrome: Owner speaks out after popular holiday park in Northampton is placed into administration

The owner of the company which runs Billing Aquadrome holiday park in Northampton has said it’s ‘business as usual’ at the site despite going into administration last week.

Billing Aquadrome Limited, run by the Royale Life Group, which owns Billing Aquadrome and Cogenhoe Mill holiday parks, went into administration on Thursday (July 6).

RoyaleGroup ‘no longer has any operational control over the parks’, according to a letter by the appointed administrator, Grant Thornton UK LLP, which was handed out to residents last week.

Robert Bull, founder and executive chairman of RoyaleGroup, confirmed on Sunday (July 9) that the involvement of his company ‘will be limited’ at the site but added that it is still ‘very much business as usual’.

Mr Bull said: “As part of the recapitalisation process, Billing Aquadrome has been placed into administration and while all staff continue to be employed and continue to operate the business as usual, the involvement of RoyaleLife and RoyaleResorts will be limited.

"More than 200 plus legal entities comprise the RoyaleGroup and these remain unaffected by the situation at Billing Aquadrome.

“I therefore want to reassure our funders, employees, suppliers, owners, residents and visitors that it is very much business as usual.”

The man appointed as the administrator for the site, Oliver Haunch of Grant Thornton UK LLP, says that he will be ‘working to secure the long-term future of the parks under new ownership’.

Mr Haunch said: “I can confirm that the resorts will continue to trade on a ‘business as usual’ basis.

"The appointment will enable these successful and cash generative sites to benefit from further investment to enhance the existing facilities and expand the service offering in the short and medium term.

"I will be working closely with the companies’ lenders to secure the long-term future of the parks under new ownership.”

A spokesman for Grant Thornton UK LLP added: “Ultimately, in light of the leverage and liquidity challenges faced by the wider group, the secured creditor was left with no choice but to appoint administrators in order to secure the long-term future of the sites and facilitate ongoing investment from the companies’ lenders.

"This appointment follows similar action taken by Intermediate Capital Group to place other companies (Royale Parks Limited, Time GB Properties Ltd and Waterside Country Park Limited) that form part of the Royale Life Group into administration.”Owner of popular holiday park near Northampton says they are in a strong financial position as neighbouring park goes into administration