MORE NEWS IS expected to emerge this week on the fate of caravan and motorhome dealer group Discover Leisure.
Discover Leisure, the UK’s largest dealer group, announced on Friday 14 October that administrators had been appointed, explaining “the Company was unable to continue trading as a going concern” in a statement reported by the London Stock Exchange news service.
The statement goes on to say that: “The Directors and management will be working with the administrators to try and ensure that the business is saved in part or as a whole and as many of its employees as possible maintain their jobs within the business.”
Further news reported by Yorkshire regional newspaper The Press explains that 240 staff have been laid off by the troubled dealer group.
The news followed a recent business update in which the group’s Board announced that it needed additional finance “to secure the ongoing trade of the business.” And this morning trading of its shares was suspended at the request of the company.
Back in August 2005, Discover Leisure acquired the company that owned Harringtons Caravans, and went on to purchase Leisure World (with four dealer sites), Barrons (with seven sites), Mendip Caravan Centre (three sites), and Brownhills’ Cannock site.
When the global financial crisis hit in 2008, the group suffered from a fall-off in demand for caravans and motorhomes. It undertook a major restructuring in 2009, that included closing 11 of its sites.
Since the restructuring, the group’s five branches across the north of England, employ 250 people. Pictured are Discover Leisure’s David Morrow (Chairman) and Trevor Parker (Chief Executive).
The company is the sole distributor for Inaca awnings and Compass caravans.
Customers or creditors who want to get extra information should contact administrators KPMG on the dedicated customer helpline.
Tel: 0845 617 1490