Tue, 14 Oct 2014 | ADMINISTRATION
A turnaround expert has been brought into Blackpool Airport ahead of the appointment of a liquidator this week.
Gavin Gracie has been hurried in to the board of the company to handle its affairs, after it was confirmed last week that owner Balfour Beatty will close down the airport.
A meeting between the creditors and shareholders of Blackpool Airport is to be held on Thursday – 16th October. Flights at the airport are due to cease the day before.
Placing the business into administration will be voted on at the meeting, with Blackpool Airport Ltd possibly facing company voluntary liquidation.
Zolfo Cooper was tasked with selling the airport at the end of August, to a deadline of last week set by Balfour Beatty. With no resulting sale, the airport’s closure on Wednesday is the next step.
Blackpool Council voiced its annoyance that the airport’s largest airline Jet2 had not been more proactive in drawing in new routes and airlines.
John Jones at Blackpool Council told Insider Media: “Jet2 have to operate in the interests of shareholders and we understand that, but their stance has certainly not been supportive of continuing operations in Blackpool.”
BAE Systems has come forward to offer a hand to the downcast company. A spokesman said: “We are in discussion with a number of operators from Blackpool Airport to see if we can provide some short term business continuity to them without affecting our operations.”
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Related information:
Company liquidations
Guides on buying distressed businesses
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