Drayton Manor opened in 1949, so this is a seventy year old business we’re talking about. It’s not some kind of passing fad. It’s survived all kinds of storms. It’s really sad to see it so close to bankruptcy. It’s true that some of the kid’s parks seem to be doing relatively well, but I doubt any of them have the levels of debt that Drayton Manor has. Sure, they’ll sell the rides and the proceeds will help, but second hand rides tend to lose their value pretty quickly. When you look at the prices on used ride websites, I doubt the sale will clear that much of their debt.
Businesses like Drayton Manor have to evolve over time, but the rate of change has been very rapid with a lot of rides closing in a very short space of time. It’s going to be very difficult for them to come back from this. They’ve got a brand that has slowly evolved over 70 years. It’s difficult to quickly reposition it. Not to mention that you can’t just lay off a big chunk of your workforce without it damaging the company culture and the fabric of the organisation. Once the redundancies have been made and the dust has settled down, I doubt the relationship between the managers and the level of trust will ever be quite the same again.
We all knew the park was struggling, but this is a big turn of events. A few weeks ago, we were speculating about whether or not the rapids would re-open. Now we’re looking at most of the big rides closing.