Indian may buy UK’s holiday co Pontin’s

LONDON: Indian millionaire Bhanu Choudhrie has teamed up with the Dubai royal family in a bid to rescue iconic British holiday company Pontin’s, which has gone into administration, a media report said.

The 32-year-old London-based entrepreneur, through his family’s investment vehicle C&C Alpha Group, is contemplating buying the company, with a staff strength of 850, for up to £15 million, the Daily Mail reported.

The Alpha Group will hold discussions with Pontin’s administrator KPMG in this regard on Monday, it said. “We want to keep the management team in place and expand the business,” Choudhrie said.

It was feared that up to 850 jobs were at risk, along with the holidays booked by hard-up Britons who had opted for a cheap UK break.

Accountant KPMG has been appointed joint administrator. Jane Moriarty, joint administrator at KPMG, said: “Everybody should get their holidays. We fully expected a lot of interest in Pontin’s — it’s an iconic British brand.”

The company was founded by Fred Pontin, who opened his first holiday park in Brean Sands in 1946.