Brighton’s i360 tower facing closure as owner seeks rescue buyer

The Brighton i360 is “at real risk of closure” after the company that owns the observation tower confirmed its intention to bring in administrators to help it to find a rescue buyer.
Brighton i360 Ltd borrowed money from Brighton & Hove city council in 2014 to help fund the development of the 450ft tower and the doughnut-shaped glass pod that moves up and down it.
However, the company has not made any repayments for almost 18 months and its debt stands at £51 million. Julia Barfield, chairwoman of Brighton i360 Ltd, said “unfavourable summer weather conditions”, cost increases and a cash-strapped public had hit trading, leaving the business unable to keep up with its repayments.
She added: “We are working closely with the prospective administrators at Interpath to ensure the continued operation of the business during this period and to explore all potential avenues for restructuring.”
Barfield and her husband, David Marks, designed the i360 having previously worked on the London Eye. The Brighton landmark opened in 2016 and was originally sponsored by British Airways.
The i360, which welcomes hundreds of thousands of visitors a year, will remain “fully operational”, although Charlie Carter from Interpath, who is leading the sales process, warned that the tower was “now at real risk of closure unless a buyer can be found”.
Jacob Taylor, deputy leader of Brighton & Hove city council, said the i360’s financial troubles were “extremely disappointing”, adding: “This leaves a large unpaid amount to the city council, which will have an impact on the overall budget.”