image credit: Adobe Stock

Staycation giant Parkdean plots £600m refinancing after shelving sale

February 7, 2023

Via: Sky News

Sky News understands that Parkdean Resorts has appointed bankers at Barclays and Bank of America to work on a deal ahead of hundreds of millions of pounds falling due for repayment in March 2024 and the following year.

The attempt to pursue a refinancing follows its owners’ decision last summer to abandon an auction of the business that was expected to value it at more than £1.5bn.

The postponement of Parkdean’s sale came despite a record financial performance in 2021, as staycation-focused leisure groups enjoyed a pandemic sales bonanza.

Read More on Sky News