[Brighton] i360 filing for administration

[Joey Jo Jo Jr. Shabadoo]

everyone else has to eat a shit sandwich.

It's never going to to succeed if that's the kind of food they are serving.

 

[Badger]

It's never going to to succeed if that's the kind of food they are serving.

It will be vegan shit though.

 

[Uter]

A total shit show. £51millon is one hell of a ‘write off’, what could that kind of money have done for various projects for the underprivileged in the City?

My understanding is the money was borrowed from the Public Works Loans Board which could only be used for major buildings works.

 

[SkirlieWirlie]

It will be vegan shit though.

Bullshit!

 

[Westdene Seagull]

My understanding is the money was borrowed from the Public Works Loans Board which could only be used for major buildings works.

Correct - although I think the exact phrase was "Infrastructure Improvements" - each person will have their own opinion as to whether this was an 'Infrastructure Improvement'.

 

[Stumpy Tim]

It's Sarah Willingham from Dragon's Den who I though has been very successful in hospitality ?

My son is good mate's with her son. She's very nice, and also a sharp cookie. Her taking it on is only a good thing

 

[Cheshire Cat]

Correct - although I think the exact phrase was "Infrastructure Improvements" - each person will have their own opinion as to whether this was an 'Infrastructure Improvement'.

You still have to finance the loan and pay the debt charges from the revenue account (which is where the council tax receipts go to). And ultimately repay it.

 

[Brovion]

Yes.

Whether you were one of the dozens on here who showed the extraordinary foresight to say this project would fail and are creaming themselves to remind us all that they were right, the city of Brighton has had a massive punt on this working out. It's terrible for the city and expensive if it's just decaying.

The fact that someone has taken it on is brilliant news for Brighton

It wasn't 'extraordinary foresight' it was considered opinion. And no one is 'creaming themselves' at being right, we were, are, very angry. The vast majority of those of us who were a bit brighter and less gullible than you and who were opposed, once the decision was taken wanted it to be a success. (I've only seen one post on here saying otherwise. There may be others).

And I'm still angry at the huge loss we've now got to take. And I'm slightly incredulous that you can make an aggressive post like that, when actually what you should have said is "I thought it would be a big success but I was wrong. I'm really sorry."

But yes, it is good news that it's been taken over and isn't left to rot as we would probably get lumbered with the cost of demolition. Whether this organisation will be able to make a success of it, or whether we'll be back here again in a few years' time remains to be seen.

 

[Herr Tubthumper]

It's Sarah Willingham from Dragon's Den who I though has been very successful in hospitality ?

I just realised who she is. Whilst I have not interest in her bars, it’s more than fair to say she has had long, regular and sustained success in a tough sector.