Burnham-On-Sea’s Lakeside holiday park has been placed into administration, its owner has confirmed this week – but the company is reassuring holidaymakers that the park will continue to ‘operate as usual’.
The announcement from RoyaleGroup comes as it undertakes “a recapitalisation of the business” across the country.
It says Lakeside holiday park, which is located off Westfield Road in Burnham, remains open for business.
In a statement to Burnham-On-Sea.com, a spokeswoman says: “RoyaleGroup, owner of RoyaleLife, is Britain’s largest provider of bungalow living for the over 45s. RoyaleLife is building in 64 different residential bungalow communities with 40 more in planning and development.”
“Currently, a recapitalisation of the business is taking place with the aim of installing 1000 new bungalows across the UK, starting later this year. RoyaleGroup also fully owns the highly successful RoyaleResorts, whose holiday parks have thrived since the popularity of staycations.”
“As part of the recapitalisation process Lakeside has been placed into administration and while all staff continue to be employed and continue to operate the business as usual, the involvement of RoyaleLife and RoyaleResorts will be limited.”
Robert Bull, Executive Chairman of RoyaleGroup, adds: “More than 200+ legal entities comprise the RoyaleGroup and these remain unaffected by the situation at Lakeside.”
“I therefore want to reassure our funders, employees, suppliers, owners, residents and visitors that it is very much business as usual.”
