Billing Aquadrome owner threatens legal action over winding-up orders
RoyaleGroup, the owner of Billing Aquadrome, has said the resort has been placed into administration after the firm was hit with a succession of “false” winding up orders.
The Northamptonshire resort is now in the hands of administrators from Grant Thornton and is reportedly up for sale, but Royale Group founder has told TheBusinessDesk.com that it is “business as usual”.
Robert Bull, Founder and Executive Chairman of RoyaleGroup, said: “Like many companies we had a challenging time emerging from the pandemic and, as an entity, we became subject to winding up orders based on false claims and unfounded information. These have either been dismissed or are the subject of legal action.”
He added: “More than 200 legal entities comprise the RoyaleGroup and these remain unaffected. I therefore want to reassure our funders, suppliers, residents, and employees that it is very much business as usual.”
RoyaleLife, a subsidiary of RoyaleGroup, says it is building in 64 different residential bungalow communities with 40 more in planning and development. Bull says a recapitalisation of the business is taking place with the aim of installing 1,000 new bungalows across the UK, starting later this year.
Bull added that RoyaleLife’s involvement in Billing Aquadrome will be “limited” while it is in administration.
As we reported on Monday, joint administrators Daniel Smith and Oliver Haunch of Grant Thornton have written to residents at the holiday parks, says the Northampton Chronicle.
It says: “The administrators will launch a sale of the parks, however how a sale campaign will be conducted is not yet decided.
“These are income-generating caravan parks with exciting approvals for development of additional sites.
“The sales team will continue to seek interest for the sale of caravans and the joint administrators, with the support of the secured creditors, are considering an applicable sales plan to generate additional interest and growth for the parks.”
