Discover Leisure seeks new funds
DISCOVER Leisure has warned that it needs additional finance to secure the future of the business despite cutting its losses.
The caravan and motor home retailer, which has tow of its five sites in the North West – at Delemere and Chorley – recorded pre-tax losses of £1.5m for the year to the end of August compared to £1.8m in the previous year.
But turnover also fell from £52.3m to £49.8m and in a statement it warned it “will come under further significant pressure this autumn and winter.”
It continued: “The group has continued to benefit from its existing lending facilities, but the board recognises that it needs to secure additional finance and is therefore actively involved in pursuing a number of opportunities to secure the ongoing trade of the business.”
Discover said it was the victim of an overall fall in UK sales of touring caravans and motorhomes which were down in the three months to August, the main selling period, compared to 2010.
The Yorkshire company employs 250 people. In 2009 it went through a major restructuring which saw it enter into a company voluntary arrangement and sell 11 of its trading sites.
