BusinessBusiness RecoveryKPMG takes on Pontin’s

KPMG takes on Pontin's

Pontins holdiay camps go into administration under control of partners from KPMG

THREE KPMG partners have been appointed joint administrators of holiday camp company Pontin’s.

Jane Moriarty, David Costley-Wood and Rob Croxen took over the running of the iconic British holiday company yesterday and announced they were looking for specialist managers to bring the business back to financial health.

KPMG are currently managing five locations and around 850 staff. A statement from the firm said no redundancies were made “on appointment”.

Jane Moriarty, joint administrator and restructuring partner at KPMG, said: “Pontin’s is an iconic British brand which forms the backdrop to thousands of treasured family holiday memories. 

“It has unfortunately struggled in the current economic environment but, with some support from new management, we are optimistic that it will be part of thousands of family memories in the years to come.

“From day one, we will be actively running Pontin’s to ensure that our guests’ holiday expectations are met.  Any customers with queries about their holiday plans should call our dedicated helpline.”

Pontin’s was founded in 1946 by Fred Pontin to provide low cost self catering holidays.

The business was acquired in 2008 by Ocean Parks, a consortium run by Graham Parr who had previously run the business under different owners. It was reported at the time he had backing from Abbey. It’s five locations had been undergoing substantial refurbishment.

 

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