Issue details - Brighton i360 - Decision on Future
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Issue details
Brighton i360 - Decision on Future
PDF 284 KBThis report updates Cabinet on the decision of
the board of Brighton i360 Limited to file for administration, the
work done by the administrators to seek a sale of Brighton
i360’s business and assets to new owners through an
administration process. It is recommended the council agree to the
release of its security on the debt owed to the council by Brighton
i360.
Decision type: Key
Reason Key: Expenditure is greater than £1,000,000 & Significant impact on 2 or more Wards;
Decision status: Recommendations Approved
Wards affected: (All Wards);
Notice of proposed decision first published: 17/01/2025
This decision will be taken under urgency procedures.
Reason for urgency:
The closing date for bids was 13th January 2024 and discussions with Interpath and the Buyer continued beyond the report publication date. Interpath need to complete the sale before January 31st and the sale cannot happen without the release of the council’s security on the loan
Decision due: 23 Jan 2025 by Cabinet
Lead member: Cabinet Member for Finance and City Regeneration
Contact: Max Woodford, Director for Place Email: max.woodford@brighton-hove.gov.uk Tel: 01273 291666.
Consultation process
n/a
Decisions
- 24/01/2025 - Brighton i360 - Decision on Future
Agenda items
- 23/01/2025 - Cabinet Brighton i360 - Decision on Future 23/01/2025
Documents
- Brighton i360 - Decision on Future