Insolvency & Rescue Solutions for Leisure Businesses
Reports of insolvencies within the UK’s leisure sector are appearing with increasing regularity. These can range from large sports centers to niche operations, such as go-karting, indoor golf, and trampoline parks.
In some cases, local authorities may bail out a facility if it is providing council services, but only if it is felt to be viable, whereas other leisure operators may find buyers. But, this is not happening in all cases.
Here at Company Debt, we have significant experience in both closing and restructuring leisure services businesses. Get in touch for a free, no-obligation discussion about your situation with one of our licensed insolvency practitioners.
Leisure Pressure Points
What are the Reasons for Leisure Insolvency?
If a sector is considered higher risk and there were concerns about safety pre-pandemic, then it may well only have liquidation as an option. An example of this is indoor trampolining, which a few years ago gained in popularity, including as a children’s party venue. However, accidents at a number of parks pushed up insurance claims and made cover increasingly hard to find and afford.
Children’s sort play centers have also been hit hard. Although these can now reopen, some parents have concerns about hygiene, ventilation, and the fact that social distancing with young children is an impossibility. It’s estimated well over 40 soft play centers have closed, largely due to the pandemic.
But, that is not to say that leisure does not have a future, even if recovery is several years off. There remains plenty of interest in health and fitness and many see rundown town centres as needed to benefit from new leisure facilities, rather than retail if they are to attract visitors again.
Help for your insolvent leisure business
If your leisure business is experiencing difficulties, you should not delay seeking advice. Business owners need to address problems and if they put this off, then their options become more limited.
Company Debt provides expert support and advice on the next steps for an insolvent business, whether rescue, recovery, or liquidation.
Knowledge – Insight – Solutions
We are fully licensed and accredited insolvency practitioners based in north London, and with decades of combined partner experience in helping directors find positive solutions to business challenges.
Our goal is first to understand your situation as fully as we can, and then to explain the range of options available to you.
We focus on practical advice, without jargon. We practice total transparency around costs and fee structures. Our wish is to support you as fully as possible so that you can emerge from this situation in the best possible situation.
As a first step, simply book in a call with one of our team to learn more about our approach, and to take advantage of a fee consultation that carries no obligation.
Book My Consultation
If you need an experienced insolvency practitioner or business rescue specialist, seek advice now.
- Your free consultation will be led by one of our experienced London insolvency practitioners
- You can speak via phone, online meeting or in person so that we can listen carefully to the facts about your situation
- The team will provide a preliminary view of the likely best outcome, proposed strategy, and the likely cost
- We specialise in helping limited comany directors needing immediate professional debt advice