Administrators called in over Treasure Island

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ADMINISTRATORS have been appointed to oversee the beleaguered Treasure Island attraction.

Jon Beard and Neil Mather, partners at corporate recovery specialists Begbies Traynor have been appointed administrators to Coasta Ltd, the company that runs the seafront attraction.

Treasure Island shut its doors on March 3 and went into liquidation after the revelation it owed £50,000 of rent to landlord, Eastbourne Borough Council.

Mr Mather and Mr Beard were appointed on March 14.

Mr Beard said, “We are keen to work with the council to enable the sale of the business and secure a new tenant for the park as soon as possible.”

Eastbourne Borough Council has already stated its commitment publicly.

A spokesperson said, “Treasure Island is an important attraction on Eastbourne seafront and the council is very keen to see a positive outcome for this key location. It is essential that an appropriate resolution is achieved in a timely manner and the council will contribute in any way it can to support this objective.”

Interested parties should contact Jon Beard at Begbies Traynor’s Brighton office on 01273 747847.