ADMINISTRATORS have sold seaside arcades business Marine Parade.
Philip Watkins (pictured below) and Philip Armstrong, partners at FRP Advisory,sold the stricken arcades to private leisure operator Albert Botton, who is hoping to re-open them in time for the summer.
Watkins and Armstrong were appointed joint administrators to the Great Yarmouth based business, which trades under The Golden Nugget, Circus Circus and Flamingo brands.
Watkins said: “This is an excellent result for the seaside heritage of Great Yarmouth.
“We are delighted that these iconic arcades will continue to welcome visitors as we head towards the summer season.”
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children