Get in touch: send your photos, videos, news & views by texting YORK to 80360 or send an email»
York Wheel to stay after owners go bust
10:09am Friday 10th August 2012 in News
YORK Wheel is to stay open despite its recent operator, Great City Attractions Global (GCAG), being placed in administration.
GCAG, which operated the 53-metre high York Wheel and others in the UK, Australia and Asia, is being wound up by administrators after ceasing to trade on July 30.
The York Wheel and one in Plymouth will continue to trade as usual, having been sold to a company called Shipley Investments before GCAG went into administration.
The Shipley family, of Sutton Coldfield in the West Midlands, has a long association with the observation wheel company and other entertainment businesses.
Jason Groocock, of G2 Insolvency Limited, said GCAG’s management had tried to source the investment to save the business, and while there were a number of interested parties, it could not be done in time to save the business.
GCAG by then was operating only one observation wheel in Liverpool, which has closed.
York Wheel returned to the city in December after a previous wheel, based next to the National Railway Museum, closed in November 2008.
In November 2011, after a number of suggested locations were ruled out because of objections by local residents, City of York Council gave permission for the 42-pod wheel, which can carry 1,000 people an hour, to be located in the gardens of the Royal York Hotel until January 2013.
The first wheel was operated by WTA Global Holdings, which went into administration in December 2010 leaving debts of £16 million, including £2.5 million to Shipley Investments and £1.5 million to Jon Shipley, a director of Shipley Investments.
WTA Global Holdings was bought out by Elliot Hall Limited, a company set up by one of WTA’s directors, Elliot Hall, who also lost about £1.5 million in the collapse.
Elliot Hall Limited later changed its name to Great City Attractions Global.
The Press was unable to contact the new owners Shipley Investments.
Stacey Galley, 27 of Fulford , York, who visited the attraction yesterday, said: “It’s great to know that the attraction is staying in York, especially for tourists. I’ve been up in it. It’s a great view.”
Comments are closed on this article.