The future of Pontins has been called into question, with advisory firm KPMG placing the organisation into administration.
One of the “most iconic British brands”, Pontins employs 850 staff in the United Kingdom, offering low price holidays in costal resorts.
No redundancies have been announced, whole the five sites operated by the organisation Brean Sands in Somerset, Camber Sands, Sussex, Pakefield, Suffolk, Prestatyn Sands in Wales and Southport, Merseyside – will continue to operate as normal.
Despite the move, which has taken many by surprise, KPMG confirmed it a statement it was hopeful of finding a buyer for the holiday operator.
The business was started in 1946 by Fred Pontin and at one point had 30 holiday parks.
A spokeswoman for KPMG said the company had run out of cash because bookings had fallen drastically in the past year.
In February 2009 Pontin’s announced a £50 million plan to redevelop its centres and create 2,000 jobs.
However, the Blackpool Park resort, in Lancashire, was eventually closed.
Pontin’s slide into administration has come as a surprise as many UK holiday companies have benefited in recent years from more people taking trips in Britain rather than abroad because of the weak pound – so called ‘staycations’.
KPMG plans to appoint an “¬¬experienced leisure operator” to help it run the company until a buyer can be found, and has pledged to honour all reservations.
The administrators have set up a helpline number for customers - 0844 576 8481 - which will be open from Monday November 15th.