Discover Leisure’s Financial Troubles Worsen

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October 14, 2011 by   Comments Off on Discover Leisure’s Financial Troubles Worsen

English-based RV dealer Discover Leisure has pulled its staff from the NCC Motorhome & Caravan Show, after admitting that it may not be able to solve its current financial problems.

Caravan Times reported that the retailer, which has five dealerships across the North of England and headquarters in York, made a worrying announcement to the London Stock Exchange today (Oct. 14) at 8 a.m.

“The board now believes that it is increasingly unlikely that an acceptable solution to the funding issues that the group faces can be secured in the necessary timeframe,” the statement read.

Furthermore, the AIM-listed company withdrew its shares, after they had plummeted to a 52-week low of 23 pence, down nearly 48% so far this week.

Earlier this week the company announced poor sales figures for the three months to August 2011 and revealed that it is seeking additional funding.

In reaction to this troubling news, Caravan Times spoke with Louise Wood, spokesperson from the National Caravan Council, who confirmed the situation at the Birmingham NEC. “At present, no Discover Leisure staff are at the NCC Show. Their stand is not available at the moment; it is very much a ‘wait and see’ situation.”

She added, “If anyone has recently paid a deposit to Discover Leisure, we would advise them to contact the company in the first instance. We are awaiting further clarification of the situation, but at present we have not had confirmation that Discover Leisure has gone into administration.”



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