Brighton i360 debt tops £50 million

The i360, a tourist attraction in Brighton, UK, reportedly owes more than £50 million to the city council, with the outstanding debt calculated at £50.033 million as of December 31, 2023. The debt figure translates to around £181 per resident of the city.

The i360 company should have made £20 million in debt repayments since 2017, according to Councillor Jacob Taylor, the council’s finance lead, but has fallen short by £15 million. The i360 borrowed £36 million from the government’s Public Works Loan Board in 2014, and the current debt includes interest.

The council is reportedly working with the i360 to address the financial challenges and boost revenue through new attractions and a revised business plan.

SEARCH

YOU MAY ALSO LIKE

What is happening to rents?

Lettings agency Hamptons believe that rents have peaked.  Their latest data  reveals some interesting trends in the...

CATEGORIES
SOCIAL
Twitter feed is not available at the moment.

0 Comments

Submit a Comment