Holiday village operator Center Parcs has slipped to a pre-tax loss of almost £160m as a result of Covid-19's impact on the tourism and leisure sector.
Accounts for Center Parcs (Holdings 1) have revealed the group made a pre-tax loss of £157.1m for the year to 22 April 2021, down from a profit of £43m in 2020.
Revenue went from £443.7m to £122.2m over the same period.
The Center Parcs business operates ﬁve holiday villages in the United Kingdom, at Sherwood Forest in Nottinghamshire, Elveden Forest in Suffolk, Longleat Forest in Wiltshire, Whinfell Forest in Cumbria, Longford Forest in Ireland and Woburn Forest in Bedfordshire.
The UK arm of Center Parcs is headquartered in Nottinghamshire, and opened its first village at Sherwood Forest in July 1987.
During the financial period, about 90 per cent of the group's employees were furloughed while it also benefitted from a business rates holiday applicable to the leisure industry.
A statement signed off by the board said: "The Covid-19 pandemic has had a significant impact on the group's business. Whilst the villages have now all reopened, the situation continues to evolve with government advice being regularly updated.
"Although the villages are now open, social distancing guidance remains in place and the UK Government may reintroduce tighter restrictions that could result in on or more villages having to close again. It is, therefore, not certain how quickly operations will return to pre-crisis levels."
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