Dream Lodge, which operates holiday parks across East Anglia and other areas has gone into administration. The operator parks were based in Lazy Otter Meadows in Ely, Blosson Hill Park in Devon, The Sanctuary in Berkshire and Woodlands Park in East Sussex.
In a statement the partners at Deloitte, Richard Hawes and Rob Harding said that The Dream Lodge Group was impacted by a “period of financial pressure”.
It added: “Given the immediate funding constraints and seasonality of the business, it has been necessary to make 80 out of the 121 employees redundant, with immediate effect.”
The holiday parks were more luxurious than most and promised, Hot Spas, walk in wardrobes, heated swimming pools etc. Investors were encouraged by being promised access to the lodges and a guaranteed rental return. Things started to go awry when payments to investors didn't arrive. Lodges were available for investments between £50k and £150k.
Unfortunately, these investors are unlikely to recoup much money as they are in effect unsecured. Lenders will have security and are more likely to get something back on the sale of the park's assets.
Categories: What is administration