22/Aug/2014 - Last News Update: 18:03

Olympic Games: London Pleasure Gardens in administration

Category: England

Published: 3rd Aug 2012 20:22:26

The operator of an arts and culture site close to the ExCel Olympics venue has gone into administration.

London Pleasure Gardens (LPG) had received £3.3m in funding from Newham Council to run the 20-acre site.

Administrators Deloitte said the site on Pontoon Dock had fewer visitors than expected, attracting fewer than 7,000 visitors per day.

A council spokesman said it would get the money back and make a success of the site with a different operator.

"The decision by London Pleasure Gardens Limited to enter into voluntary administration is regrettable but understandable.

"It is disappointing that the anticipated visitor numbers and revenue from recent planned events have not materialised."

Joint administrator Rob Harding said: "Unfortunately, London Pleasure Gardens has underperformed against its original business plan both in respect of festival activity and far fewer visitors than originally envisaged passing through the site and using its facilities.

"This has manifested itself in a cash flow shortfall in the business resulting in the directors having no option but to appoint administrators."

LPG is one of two exits Olympic spectators are directed through after watching events including boxing, table tennis, weightlifting, and wrestling at the ExCel centre.

Earlier this week, traders had complained about poor management of the site and lack of customers.

The council spokesman added that the event had been the victim of how successful Olympic organisers Locog had been in getting people away from the venue.

He said LPG had counted on people waiting to use public transport for custom.

However, Locog said: "Sensible business planning to allow the DLR to cope with a large influx of passengers during the Olympic events at the Excel Centre meant that temporary limitations on promoting the Pleasure Gardens at Games time were agreed with the venue at the outset and would have been factored into their business model.

"Locog has certainly been encouraging spectators choosing to leave the Excel Centre that way to make use of the Pleasure Garden facilities."

BBC News External Link Show Citation

Latest News

Harvard Citation

BBC News, 2012. Olympic Games: London Pleasure Gardens in administration [Online] (Updated 3rd Aug 2012)
Available at: http://www.ukwirednews.com/news/1444434/Olympic-Games-London-Pleasure-Gardens-in-administration [Accessed 22nd Aug 2014]

News In Other Categories

  • Murderers brother Kris Malavin admits attempted murder

    The brother of two killers has admitted attempting to murder a key witness who helped convict them.
  • Kidderminster kidnapping: Three guilty of falsely imprisoning man

    Three men from Birmingham have been found guilty of falsely imprisoning a man in Worcestershire.
  • Emily Watson to star in 7/7 London bombings drama

    Actress Emily Watson is to star in a BBC drama about the London 7/7 bombings.
  • Michael McKevitt will not get early release from prison

    Real IRA leader Michael McKevitt will not be released early from prison, following a ruling by the Republic of Ireland's Supreme Court.
  • Bristol Academy extends reach overseas with first foreign students

    With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com
  • Salmonella outbreak 'linked to single egg source'

    The outbreak of salmonella in England is likely to have come from a single source of eggs, according to Public Health England.