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NEWS
London Resort Company grapples with CVA
POSTED 24 Mar 2023 . BY Tom Walker
The original £2bn plans were first announced in 2012 by a consortium which included US-based entertainment giant Paramount Pictures Credit: London Resort Company Holdings (LRCH)
London Resort Company Holdings Ltd has called in administrators with the view to pushing through a CVA
The company is behind longstanding plans to build a theme park resort in Swanscombe, Kent
The move casts doubt over the £2bn proposals
The plans were first announced in 2012 by a consortium which included US-based entertainment giant Paramount Pictures
London Resort Company Holdings (LRCH), the company behind plans to build a theme park resort in Swanscombe, Kent, has called in administrators with the aim of completing a CVA.

The company says it is aiming to agree terms with creditors in relation to its liabilities with a view to continuing with the development.

However, the move could be the final death knell to the £2bn proposals to build the huge attraction, once described as one of the most 'ambitious theme park projects in Europe'.

The original £2bn plans were first announced in 2012 by a consortium which included US-based entertainment giant Paramount Pictures.

In 2014, the project was categorised as being of 'national significance' and fast-tracked by the UK government, while plans were laid to improve transport links and Mission Impossible and Star Trek were slated as possible IPs for the development.

In 2015, Farrells was revealed as the masterplanner
for the development and a Chinese investor put in £100m, however, by 2016, the project had advanced – but had already hit some significant bumps.

Fenlon Dunphy, one of London Paramount’s prominent figureheads, walked away from the project, two months after the developer made public assurances that the theme park was on track.

As Paramount pulled out, the name of the proposed park was changed from London Paramount Entertainment Resort to "The London Resort".

A joint venture with construction company Keltbray followed.

In 2019, the project received new wind in its sails, as Paramount Pictures made a surprise move and entered into a new partnership with LRCH, re-engaging with the project to supply its IPs and a deal was also done with ITV Studios for the use of its IPs.

The announcement coincided with LRCH also appointing PY Gerbeau – credited with contributing to the development of Euro Disney in the late 90s and the Millenium Dome in London in 2000 – as CEO.

An opening date was then set for 2024, since then, however, the project has suffered a number of setbacks.

These have ranged from a critically endangered jumping spider being found on the site – leading to delays in the planning process – to complications relating to nearby Tilbury being classed as a Freeport.

Following these difficulties and delays, LRCH has entered the company voluntary arrangement (CVA), in order to renegotiate its debts, throwing the future of the project in doubt. A winding up order for compulsory strike-off was suspended on 24 February and discontinued on 7 March, indicating that positive progress may be underway.

Directors of the company are currently listed as Dherar Mohamed Saleh Al-Humaidi, Alan Crane, Robert MacNaughton, who was appointed on 27 January this year and Steven Norris. PY Gerbeau resigned from the board on 22 December 2022.
RELATED STORIES
  London Resort reveals first look at upcoming theme park


London Resort Holdings Company (LRCH), operator of the upcoming London Resort theme park and entertainment destination in Swanscombe, Kent, has released new concept artwork showcasing the first phase of the 535-acre resort.
  Paramount rejoins London Resort project as PY Gerbeau named new chief executive


Just over two years after pulling out of a deal to be the brand lead for a multi-billion pound theme park development in Kent, UK, Paramount Pictures has entered into a new partnership with London Resort Company Holdings (LRCH), re-engaging with the project to supply its iconic IPs.
  ITV Studios reaches IP deal with upcoming London Resort project


London Resort Company Holdings (LRCH) has teamed up with ITV Studios on its multi-billion pound theme park project, announcing a new partnership that will see ITV's world-famous content transformed into unique attractions at the resort when it opens in 2024.
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Vietnam Van Gogh exhibition uses VIOSO-powered immersive installations
Twenty-five cameras, nine servers, 70 projectors and a range of AV technologies are being used to bring the art of Van Gogh to life in Ho Chi Minh City, Vietnam.
Use of cinematography techniques significantly increases engagement with VR
A study has found that the use of cinematic and video editing techniques can drastically increase the aesthetic appeal and user engagement of virtual reality environments.
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A former national ski team racer, ProSlide® CEO Rick Hunter’s goal has been to integrate the smoot [more...]
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RMA Ltd is a one-stop global company that can design, build and produce from a greenfield site upw [more...]
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Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
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FEATURED SUPPLIER

National Attractions Marketing Conference – an injection of adrenaline for UK attractions
The National Attractions Marketing Conference will see speakers representing some of the UK’s top visitor attractions and best-in-class marketing agencies gather on 6 June at Drayton Manor Theme Park & Resort in Staffordshire. [more...]
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06-06 Jun 2024

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Drayton Manor Theme Park & Resort, Tamworth, United Kingdom
06-07 Jun 2024

World Sauna Forum 2024

Sataman Viilu , Jyväskylä, Finland
+ More diary  
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NEWS
London Resort Company grapples with CVA
POSTED 24 Mar 2023 . BY Tom Walker
The original £2bn plans were first announced in 2012 by a consortium which included US-based entertainment giant Paramount Pictures Credit: London Resort Company Holdings (LRCH)
London Resort Company Holdings Ltd has called in administrators with the view to pushing through a CVA
The company is behind longstanding plans to build a theme park resort in Swanscombe, Kent
The move casts doubt over the £2bn proposals
The plans were first announced in 2012 by a consortium which included US-based entertainment giant Paramount Pictures
London Resort Company Holdings (LRCH), the company behind plans to build a theme park resort in Swanscombe, Kent, has called in administrators with the aim of completing a CVA.

The company says it is aiming to agree terms with creditors in relation to its liabilities with a view to continuing with the development.

However, the move could be the final death knell to the £2bn proposals to build the huge attraction, once described as one of the most 'ambitious theme park projects in Europe'.

The original £2bn plans were first announced in 2012 by a consortium which included US-based entertainment giant Paramount Pictures.

In 2014, the project was categorised as being of 'national significance' and fast-tracked by the UK government, while plans were laid to improve transport links and Mission Impossible and Star Trek were slated as possible IPs for the development.

In 2015, Farrells was revealed as the masterplanner
for the development and a Chinese investor put in £100m, however, by 2016, the project had advanced – but had already hit some significant bumps.

Fenlon Dunphy, one of London Paramount’s prominent figureheads, walked away from the project, two months after the developer made public assurances that the theme park was on track.

As Paramount pulled out, the name of the proposed park was changed from London Paramount Entertainment Resort to "The London Resort".

A joint venture with construction company Keltbray followed.

In 2019, the project received new wind in its sails, as Paramount Pictures made a surprise move and entered into a new partnership with LRCH, re-engaging with the project to supply its IPs and a deal was also done with ITV Studios for the use of its IPs.

The announcement coincided with LRCH also appointing PY Gerbeau – credited with contributing to the development of Euro Disney in the late 90s and the Millenium Dome in London in 2000 – as CEO.

An opening date was then set for 2024, since then, however, the project has suffered a number of setbacks.

These have ranged from a critically endangered jumping spider being found on the site – leading to delays in the planning process – to complications relating to nearby Tilbury being classed as a Freeport.

Following these difficulties and delays, LRCH has entered the company voluntary arrangement (CVA), in order to renegotiate its debts, throwing the future of the project in doubt. A winding up order for compulsory strike-off was suspended on 24 February and discontinued on 7 March, indicating that positive progress may be underway.

Directors of the company are currently listed as Dherar Mohamed Saleh Al-Humaidi, Alan Crane, Robert MacNaughton, who was appointed on 27 January this year and Steven Norris. PY Gerbeau resigned from the board on 22 December 2022.
RELATED STORIES
London Resort reveals first look at upcoming theme park


London Resort Holdings Company (LRCH), operator of the upcoming London Resort theme park and entertainment destination in Swanscombe, Kent, has released new concept artwork showcasing the first phase of the 535-acre resort.
Paramount rejoins London Resort project as PY Gerbeau named new chief executive


Just over two years after pulling out of a deal to be the brand lead for a multi-billion pound theme park development in Kent, UK, Paramount Pictures has entered into a new partnership with London Resort Company Holdings (LRCH), re-engaging with the project to supply its iconic IPs.
ITV Studios reaches IP deal with upcoming London Resort project


London Resort Company Holdings (LRCH) has teamed up with ITV Studios on its multi-billion pound theme park project, announcing a new partnership that will see ITV's world-famous content transformed into unique attractions at the resort when it opens in 2024.
MORE NEWS
Merlin unveils record-breaking Hyperia coaster at Thorpe Park
Merlin Entertainments has launched its new Hyperia rollercoaster at Thorpe Park to celebrate its 45th year.
Second Chaos Karts launches in Dubai
Live action video game experience Chaos Karts has launched in a 15,000sq ft arena in Al Quoz, Dubai.
Vietnam Van Gogh exhibition uses VIOSO-powered immersive installations
Twenty-five cameras, nine servers, 70 projectors and a range of AV technologies are being used to bring the art of Van Gogh to life in Ho Chi Minh City, Vietnam.
Use of cinematography techniques significantly increases engagement with VR
A study has found that the use of cinematic and video editing techniques can drastically increase the aesthetic appeal and user engagement of virtual reality environments.
Disneyland Paris renames theme park as part of $2 billion transformation
Disneyland Paris has unveiled a new name for Walt Disney Studios Park as part of the park’s US$2 billion transformation.
UK's Royal attractions had a bumper year in 2023
Numbers from the Association of Leading Visitor Attractions, (ALVA) show that Royal attractions saw a huge increase in visitor numbers during 2023 – the coronation year of King Charles III.
+ More news   
 
COMPANY PROFILES
ProSlide Technology, Inc.

A former national ski team racer, ProSlide® CEO Rick Hunter’s goal has been to integrate the smoot [more...]
Red Raion

Founded in 2014, Red Raion is the CGI studio for media-based attractions. [more...]
RMA Ltd

RMA Ltd is a one-stop global company that can design, build and produce from a greenfield site upw [more...]
Clip 'n Climb

Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
+ More profiles  
FEATURED SUPPLIER

National Attractions Marketing Conference – an injection of adrenaline for UK attractions
The National Attractions Marketing Conference will see speakers representing some of the UK’s top visitor attractions and best-in-class marketing agencies gather on 6 June at Drayton Manor Theme Park & Resort in Staffordshire. [more...]
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

06-06 Jun 2024

National Attractions Marketing Conference

Drayton Manor Theme Park & Resort, Tamworth, United Kingdom
06-07 Jun 2024

World Sauna Forum 2024

Sataman Viilu , Jyväskylä, Finland
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS