Argyll Holidays Staffing Rises to 255 Under Administration After £103 Million Debt Collapse

Administrators at Argyll Holidays have increased staffing across its Scottish parks from 97 to 255 employees since the company entered administration in November. ” Argyll Holidays operated through Cove Communities Venture 2 Argyle OpCo Limited and entered administration with debts exceeding £103 million. 8 million.

It remains unclear how much either group will recover. The company was founded in 1967 and its portfolio includes the flagship Drimsynie Estate park, Hunters Quay Holiday Village in Dunoon, Loch Awe Holiday Park, Loch Eck Caravan Park and a site at Inveruglas on Loch Lomond. Cove Communities acquired the business in 2022 in a deal reportedly worth around £100 million.

Administrators identified high interest rates, weaker consumer spending and rising operating costs as pressures behind the collapse. Flooding at the Medmerry site, which is not part of the administration, also contributed to financial strain. The secured lender declined a request for additional support and appointed administrators under a qualifying floating charge.

A formal sale process is expected to begin in the coming months. HM Revenue and Customs has not yet submitted a claim. Other companies within the wider group have also entered administration. Springwood OpCo in Kelso employs 20 staff, Gwel an Mor OpCo in Cornwall employs 97 employees, and Solway OpCo in Cumbria employs 46 workers.