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Drayton Manor saved from collapse after European buyer steps in
3 August 2020, 13:19
Drayton Manor has been saved from the brink of collapse after a buyer stepped in, saving hundreds of jobs.
It is understood the theme park company on Monday filed notice of its intent to appoint administrators.
But shortly after the news broke it was announced the park had been sold off to European entertainment chain Looping Group in a multi-million pound deal.
The theme park's founder, William Bryan will retain his position as managing director.
In a statement he said: "Like many businesses, we have faced challenges over recent months, but the sale to the Looping Group is an exciting and positive new chapter for Drayton Manor Park.
"For us, finding a buyer who would protect jobs was key, as was finding one who would continue to operate and develop the Drayton Manor Park our guests know and love.
"Looping Group’s commitment towards a very ambitious investment plan and its pledge to reinvest profits primarily back into the park, made it a natural and very appealing fit for us.
"The Bryan family was always committed to making the park one of the UK’s leading attractions and, under the Looping Group, we look forward to developing the family-friendly offering for many years to come."
The family theme park only recently celebrated its 70th year.
It is popular among families with small children, thanks to its Thomas Land attraction which was added in 2008.