Discover Leisure sells NW sites after CVA

CARAVAN retailer Discover Leisure has sold a number of properties, the proceeds of which will be used to pay off a £5m loan.

Trading from the properties ceased earlier this year following the implementation of a Company Voluntary Arrangement, a move aimed at helping the business move forward following a slump in trade and restructuring.

Among the sell-offs are a site in Carlisle, which has sold for £120,000 and another one in Wrexham which fetched £230,000.

Discover said its outstanding debt to NatWest now stood at £3.34m and three other properties – including one in Warrington- are also being marketed. The AIM-listed firm said it expects to raise another £1.5m from these sales.

North West financier Ian Currie is a non executive director at Discover, which is headquartered in Yorkshire.