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Drayton Manor Park

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I noticed on the Companies House website that DM had posted 3 charges in January. I dont really understand but am reading a 'charge' as a declaration of a loan with specific asstets listed as guarantee... Like a mortgage.

Is this right? If so, could we see funds raised for investment? Or are DM in the do do (they now have 24 outstanding charges)!!

Or does it mean something totally different?
 
Themepark-newbie said:
Back on subject.
I noticed on the Companies House website that DM had posted 3 charges in January. I dont really understand but am reading a 'charge' as a declaration of a loan with specific asstets listed as guarantee... Like a mortgage.

Is this right? If so, could we see funds raised for investment? Or are DM in the do do (they now have 24 outstanding charges)!!

Or does it mean something totally different?
Click to expand...

I think your understanding is correct.
I don't think your end assumption is correct however, I'm suspecting it's a survival loan.

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Thank you. I don't understand finances, but I do follow DM fondly. I suspect you are right unfortunately. If that is 24 seperate loans then that is staggering. There cannot be much left to offer as a guarantee!
 
Themepark-newbie said:
Thank you. I don't understand finances, but I do follow DM fondly. I suspect you are right unfortunately. If that is 24 seperate loans then that is staggering. There cannot be much left to offer as a guarantee!
Click to expand...
I'm not too sure on specifics but it could also be lines of credit that are setup but not used?

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Themeparksandy1981 said:
The Bryan’s haven’t sold Drayton Manor
https://beta.companieshouse.gov.uk/company/00477404/officers
https://suite.endole.co.uk/explorer/sic/93210-activities-of-amusement-parks-and-theme-parks
https://suite.endole.co.uk/explorer/sic/93210-activities-of-amusement-parks-and-theme-parks
Maybe Drayton done a deal with Mellors so they can rent some of there attractions as in the short time would be cheaper than buying.
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Why would you set up a whole new company to rent rides? Does seem very interesting whatever it is.
 
Themepark-newbie said:
Why would you set up a whole new company to rent rides? Does seem very interesting whatever it is.
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To protect your existing company if things go badly, assuming this is what they are doing then you don’t want this venture being legally linked to your existing company as any losses are liable across the board.

Not saying that is what they are doing, though it is curious that the company is called Drayton Manor Operations. Maybe they have agreed something similar to what Blackpool Tower have with Merlin, so the Bryans still own the assets but Mellors are going to operate the park?
 
Reading more into it the Bryans still own
Drayton Manor Park Limited
Drayton Manor Park catering Limited
Drayton Manor Park Hotel Limited

Where the Mellors group own
Drayton Manor Operations limited
93210 - Activities of amusement parks and theme parks

93210 code
Amusement park activities
Switchback
Preserved railway operation
Fun fair
Fortune telling (fairground)
Fairground activities
Coconut shy
Amusement park shows, theme exhibits and picnic grounds
Amusement park mechanical rides, water rides, games
Theme park operation

So like Merlin who own the Attractions at Alton Towers but not the land will pay Drayton rent to put there attractions on the park and run Drayton current ride line up also and in return will get a % of the entry tickets sold.
 
This does not even remotely suggest Drayton Manor has been sold because it has not. Drayton Manor Park Limited is still owned by the Bryan's. This is the company which owns the themepark and all the assets (rides). Still fully under the Bryan's ownership.

The setting up of the new company strongly suggests this new company will deal with the operations of the park only. The clue is in the name. This could include new attractions.

The fact the address is registered as Mellors HQ, bearing the Drayton Manor name, suggests some sort of partnership / joint venture between Mellors.

Time will tell I guess. It can only be good news. Drayton Manor has been in financial troubles for some while.
 
It implies it's a situation that a few American parks have, the park is fully owned by one company with another company operating it.
 
What looks like what has been done (to me at least, please correct me if I'm wrong) with Drayton is that all of the physical assets (land, ride hardware, buildings etc) remain with the Bryan family as well as operation of the profitable ventures such as restaurants and hotel operations and are giving up the day-to-day operations of the park for what will probably be a set income every year, so if the park loses money that year, like previous years, the loss will be with The Mellors Group not the theme park itself.

It seems that Drayton Manor owes banks repayment on investment loans, not to mention the incoming H&S fine from the Rapids incident. Receiving a guaranteed payment every year for operations of the park, combined with the fact they'll still own profitable assets such as the hotel and restaurants, should probably see the park regain control over it's finances. I doubt that this means there will be any major new additions/removals into the theme park itself though.
 
DistortAMG said:
This does not even remotely suggest Drayton Manor has been sold because it has not. Drayton Manor Park Limited is still owned by the Bryan's. This is the company which owns the themepark and all the assets (rides). Still fully under the Bryan's ownership.

The setting up of the new company strongly suggests this new company will deal with the operations of the park only. The clue is in the name. This could include new attractions.

The fact the address is registered as Mellors HQ, bearing the Drayton Manor name, suggests some sort of partnership / joint venture between Mellors.

Time will tell I guess. It can only be good news. Drayton Manor has been in financial troubles for some while.
Click to expand...

So pretty much everything that everyone in the topic said was happening then.
 
I think it's difficult to surmise from what has been lodged what has happened - lots of different rumours floating around.

You can't surmise that because Example Ltd has previously operated a division or asset, that it always will. The fact that the shareholding or directors have changed/stayed the same means nothing.
 
Interesting stuff. Hopefully it brings a better future for Drayton. Just seen on their website that they've got Shockwave down as closed until further notice? I was considering going on Saturday but may wait to see what's happening with that now.
 
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