The directors of M&D Leisure have defended their decision to purchase part of the collapsed amusement park firm through a newly established company as “the best option” for the future.
The Strathclyde Park attractions operator, which had 165 staff, entered administration on 23 April, weeks after a new company Lochview Theme Park was founded in order to become the legal owner of the operator’s assets.
“With no external buyers in sight, my family agreed that the best option would be to buy the business themselves in a pre-pack arrangement, under the business name Lochview Theme Park (Scotland) Ltd, to guarantee the continued employment of our people,” said former M&D director Matthew Taylor.
“Following the administration, Lochview Theme Park (Scotland) Ltd was able to purchase certain elements of the business and in time, and once the pandemic restrictions have been lifted, we hope to rebuild the theme park offering.”
Three directors of M&D Amusements, quarter owned by M&D Leisure, became the directors of Lochview Theme Park in February, with the business registered with Companies House as concerning the “activities of amusement parks and theme parks.”
Following the collapse of M&D, employees hired Glasgow-based legal firm Thompsons Solicitors to pursue compensation.