Bids brighten up prospects for Pontins
The future of Pontins looked brighter last night after administrators said they had received 10 bids for the troubled holiday camp chain famous for its bluecoat entertainers.
Famous bluecoats: Most bidders want to keep the Pontins holiday camps open
Administrators at KPMG said they hoped to finalise any deal within the next few weeks, as they published the first creditors report since Pontins went into administration in November.
The report revealed that in addition to the 10 offers, there had been 65 expressions of interest and that the total debt at the company - which has five sites around the country - stands at nearly £47m.
Pontins owes Santander £44m and unsecured creditors £3.6m, but KPMG warned that unsecured creditors are unlikely to see their money returned.
One winner in the process is KPMG, which has so far run up a bill of £689,571 since its appointment.
But losers include Clean Domain which is owed £365,243, Heineken Beer £117,674 out of pocket and Sefton Council which is unlikely to ever see the £53,365 Pontin's owes it.
The report said the majority of bidders want to keep the camps running and that since going into administration all 850 staff members have been paid.
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