Begbies Traynor appointed administrators to Treasure Island

Administration

Jon Beard - Partner | April 5th 2011

Jon Beard and Neil Mather, partners at corporate recovery specialists Begbies Traynor have been appointed administrators to Coasta Ltd, the company that runs the Treasure Island attraction on Eastbourne seafront.

Eastbourne Borough Council is the landlord of the entertainment centre which is popular with families in the summer months.

The site closed in March, and Mr Beard and Mr Mather were appointed administrators to Coasta Ltd, which owns the leasehold and the business assets of Treasure Island.

Mr Beard said: “We are keen to work with the Council to enable the sale of the business and secure a new tenant for the park as soon as possible.”

Eastbourne Borough Council has already stated its commitment publicly. A spokesperson said: “Treasure Island is an important attraction on Eastbourne seafront and the council is very keen to see a positive outcome for this key location. It is essential that an appropriate resolution is achieved in a timely manner and the council will contribute in any way it can to support this objective.”

Interested parties should contact Jon Beard at Begbies Traynor’s Brighton office on 01273 747847.

About the author

Jon Beard

Partner

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Jon joined Begbies Traynor in London in 1997 and moved to the Brighton office as a Director in November 2008.

He has 15 years experience working on all types of formal corporate and personal insolvency procedures, in particular, small to mid-market corporate, some of which being multi-jurisdictional, with a focus on administrations/receiverships and trading appointments. He is a Licensed Insolvency Practitioner and a fellow of R3.