| Journal: TWUK | Section: |
| Title: | Issue Date: 10/07/00 |
| Author: | Page Number: 3 |
| Copyright: Other |
Fire
Center Parcs sale delayed
THE sale of Center Parcs has been delayed by owners Scottish and Newcastle until later this year.The brewing group has been forced to reschedule the sell-off due to a fire at the De Eemhofcomplex. A statement from Scottish and Newcastle in its annual results confirmed that the company anticipated the sale to be at an advanced stage by this month.
However, the fire has caused the firm to announce that any Center Parcs transactions will not be made until late summer.
Scottish and Newcastle is also in the process of selling off Pontin’s. It expects to have disposed of properties by the end of this year. Pontin’s made an operating loss of £4.1m last financial year, a £2m reduction on 1998/99.
The company blamed the high pound for making UK holidays expensive compared to packages in mainland Europe. Scottish and Newcastle’s profits rose by 5% to £409m in the year to April 30.