Magical Journeys enters administration owing £875,000

MAGICAL Journeys, the company behind the flop Christmas attraction at The Belfry, has entered administration.

Insolvency specialists from accountancy firm Chantrey Vellacott have been appointed liquidators of the firm.

Craig Povey and Kevin Murphy, insolvency partners from Chantrey Vellacott, were appointed joint liquidators yesterday, at a creditors’ meeting held at the accountancy firm’s Birmingham offices on Calthorpe Road.

Chantrey Vellacott’s appointment follows a referral from a fellow independent member of accountancy association DFK International based in Ireland.

Povey said creditors are owed in the region of £875,000 following December’s early closure of the attraction – on which TV personality Laurence Llewelyn-Bowen acted as a consultant.

He said: “The directors of Magical Journeys faced a number of significant challenges and attribute the failure to a combination of poor weather hampering site preparation, the temporary closure of the attraction, leading to negative publicity which had an impact on ticket sales, and higher than anticipated costs.

“When anticipated investment failed to materialise they had no option but to close the attraction early. 

“Following our appointment as liquidators we are in the process of reviewing creditors’ claims and investigating if there are any assets which can be realised.

“We’ll be reporting back to creditors with the results of our investigations into the company’s affairs in due course.”

Early visitors to the attraction complained that it wasn’t finished, was an inadequate offering for the admission price, and of unprofessional practice including elves smoking.