Major British holiday park operator collapses into administration with £103million debts

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Major British holiday park operator collapses into administration with £103million debts.

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Administrators overseeing the collapsed holiday park operator Argyll Holidays have almost tripled staffing levels across its Scottish sites as efforts continue to secure a buyer for the business.The company, which operated through Cove Communities Venture 2 Argyle OpCo Limited, entered administration in November with debts exceeding £103million.A newly published administrator's report shows employee numbers across the group's Scottish parks have risen from 97 to 255 since the insolvency.Joint administrators Adam Paxton, Rob Croxen and Ben Cairns of Alvarez & Marsal said the increase was necessary to maintain operations while a sale is pursued.

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TRENDING Stories Videos Your Say "To ensure we have sufficient staff to support ongoing trading," additional workers were recruited following their appointment.A formal sale process is expected to begin in the coming months, though the timing of any transaction remains uncertain.Argyll Holidays, founded in 1967 with its flagship Drimsynie Estate...

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