Administrators called in at Gloucestershire caravan dealership
Administrators have been called in at a caravan and motor home dealership in Gloucestershire.
And the business has now been sold out of administration to another dealer in the county.
Ryan Grant and Chris Pole from restructuring specialist Interpath Advisory have been appointed joint administrators at Golden Castle Caravans Limited and Robinsons Caravans Limited.
Both companies are part of the Robinsons Caravans group which retails caravans and motorhomes from dealerships across the South West and the Midlands.
Based in Twigworth, Gloucester, Golden Castle Caravans sells new and used caravans and motorhomes, including from some of the UK’s leading manufacturers.
Robinsons Caravans Limited sells new and used caravans and motorhomes from two sites in Chesterfield, Derbyshire, and Worksop, Nottinghamshire.
While some companies across the Robinsons Caravans group have been profitable, others have experienced lower than expected sales volumes in the wake of the cost-of-living crisis and pressure on household disposable incomes.
This has placed financial pressure on the wider group, which in recent times has become increasingly unsustainable.
As a result of these mounting pressures, the directors carried out a review of their investment, refinance and sale options.
When it became clear that a solvent solution could not be found, they took the decision to call in the administrators.
The joint administrators have sold the business and assets of Golden Castle Caravans to Gloucestershire Leisure Limited, a connected party through one of its directors.
Seventeen members of staff have transferred to the purchaser as part of the transaction.
Separately, following their appointment to Robinsons Caravans Limited, the joint administrators sold certain of the business and its assets to a Storebon Holdings Limited, part of the Couplands Caravans group.
Nine members of staff based at the Robinsons Caravans site in Worksop have transferred to the purchaser as part of the deal.
The Robinsons Caravans site in Chesterfield was not included in the transaction and as a result, will close with immediate effect.
As a result 16 members of staff have been made redundant.
The joint administrators will be providing support to all those impacted by redundancy, including assisting with claims to the Redundancy Payments Service.
Ryan Grant, managing director at Interpath Advisory and joint administrator, said: “These have been testing times for many businesses across the leisure sector as a result of high cost inflation and fragile consumer confidence.
“We are pleased to have secured these two transactions which safeguard the future of Golden Castle Caravans and the Robinsons Caravans operations in Worksop.”
