Administrator of residential parks group Lifestyle Living UK, which runs Redhill Country Park in Watton and Haveringland Hall Country Park in talks over buyer
- Credit: IAN BURT
Administrators have revealed talks are taking place over the sale of a group which runs residential and holiday park sites across East Anglia.
Insolvency experts were called in to Lordsbridge and Lifestyle Living UK in December after creditors raised concerns.
The group, which employs 31 people, runs Carlton Manor Holiday Park near Lowestoft, Carlton Meres near Saxmundham, Redhill Park at Watton, Haveringland Hall Country Park near Cawston, and The Flagship Country Park near Colchester, as well as parks elsewhere in the UK.
Administrators FRP Advisory said they were aiming to sell the business and have now confirmed that discussions are ongoing with a potential buyer.
A spokesman for FRP said: 'The joint administrators are working towards a sale of the business but cannot comment further while talks remain in progress, save that the on-going trading and operations remain unaffected by those talks with all staff focused on the season ahead.'
According to the administrators' proposals filed at Companies House, FRP Advisory was called in after finance company Privilege Investments raised concerns that the group was insolvent.
In his report, joint administrator Jason Baker said Privilege had funded the group's takeover with combined loans of £22m and had asked FRP to investigate the solvency of Lordsbridge – which is Lifestyle Living UK's parent company and owns Carlton Manor Holiday Park.
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However, Mr Baker said the group's directors did not cooperate, leading Privilege to call in its loans and appoint FRP as administrators.
Since then FRP has continued to trade the parks and has attempted to find a buyer for the business.