Caravan Insurance

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Written by Eve Critchley, 08/10/2009

A caravan holiday operator has been brought bank from the brink of bankruptcy by a £325 million agreement with its banks.

In exchange for a five per cent share in Park Resorts, lenders have provided a £25 million debt facility to fund five years of improvements.

Caravan insurance policyholders may have enjoyed a break at one of the firm's 37 sites around the UK.

The Daily Telegraph reports that the holiday operator was taken over by private equity group GI Partners, before experiencing a significant fall in demand.

Recent months had seen things begin to look up for Park Resorts, however, with caravan sales rising by 40 per cent in the first half of this year.

The firm is currently running a promotion aimed at caravanners planning an October half term getaway, with discounted three night breaks starting at £139.

Providing a range of static accommodation, from its Accessible caravans to its Diamond selection, holidaymakers can choose between staying in the lap of luxury and more basic facilities.

Diamond caravans offer range-style cooking facilities, a gas fire and even an extra en-suite bathroom.

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