Holiday Park Group Owes £244 Million As Administrators Seek Buyers For UK Resorts
A major UK holiday park operator is facing administration with reported debts of £244 million, putting a portfolio of resorts across the country up for sale.
Cove Communities Holiday Park UK HoldCo Limited entered administration in November 2025, with joint administrators from Alvarez & Marsal appointed to oversee the process. The company sits behind a group of holiday park businesses operating across England and Scotland. Although the holding company is in administration, several of its operating businesses have continued trading while administrators explore options for the remaining portfolio.
The reported liabilities include approximately £70 million owed to a secured lender and around £174 million owed to unsecured creditors. Much of the unsecured debt is understood to involve inter-company borrowing and loan notes. The scale of the liabilities has prompted administrators to examine the value of the group's assets and pursue a sale process, with property adviser Colliers involved in marketing the portfolio to potential buyers.
For Cumbria, the developments are particularly relevant because the portfolio includes Solway Holiday Village at Silloth. The resort is among the parks being marketed as part of the wider sale process. Its position is distinct from Medmerry Holiday Park in West Sussex, which closed following severe flooding in 2024 and is not expected to reopen. Solway is among the sites that have continued operating during the administration process.
The wider portfolio includes several well-known Scottish destinations, including Drimsynie, Hunters Quay, Loch Awe, Loch Eck, Loch Lomond, St Catherine’s and Stratheck. Springwood Holiday Park in the Scottish Borders and Gwel an Mor Resort in Cornwall are also among the properties identified for sale. The parks form part of a wider group that expanded through its acquisition of Argyll Holidays in 2022 for a reported £100 million.
The financial difficulties have been linked to higher interest rates, reduced consumer spending and increasing operating costs. Administrators have also highlighted the impact of difficult trading conditions across parts of the portfolio. The closure of Medmerry following flooding added further pressure, although that site’s circumstances are separate from the parks that remain open. The combination of borrowing costs and operational pressures has contributed to the group’s financial challenges.
The administration period has been extended until October 2027, allowing more time for the sale process and other options to be considered. The outcome could affect the future ownership of the parks, as well as employees, holiday-home owners, customers and local businesses connected with the resorts. However, the administration does not mean that every park is closing, and several businesses continue to operate while potential buyers are sought.
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