A quick i360 update, from the Argus website a few days ago:
BRIGHTON'S i360 lost nearly £4million in a year as visitor numbers dropped by almost a third.
The seafront observation tower sponsored by British Airways saw a 31 per cent fall in customers in its second year of trading, down from...
It will be interesting to see how it plays out, that is for sure.
As I understand it, the i360 cost around £45m to build, so the council loan must have funded approx 85% of the project. That is a crazy and quite breath-taking level of risk to expose yourself to, for what is essentially a new...
"Brighton's i360 is seeking a new deal on paying back its £36m loan from the city council after failing to get enough visitors.The owners want to restructure the loan and reduce the annual payments from £570,000 to £25,000 until 2024." Source: UK-BBC News, June 2018.
So the Council borrowed...