Latest news with #HazelGeary
BBC News
7 hours ago
- Business
- BBC News
The Wave Bristol: Inland surfing lake sold amid financial dispute
The future of an inland surfing lake remains uncertain as the facility is sold amid a row over Wave, on the outskirts of Bristol, shut suddenly on Thursday and cancelled bookings after being placed into technical Hazel Geary announced on Friday evening the site, under the entity Surf Bristol Limited, had been sold to a company called Sea Level Wave Company had been taking place with the aim of reopening the facility on Saturday, but the BBC understands those have broken down at the last minute. Majority owners Sullivan Street Partners claimed the closure followed problems surrounding the bankruptcy of a director of another funding partner, JAR Wave. The BBC has approached the firm for is no clarity as yet for customers and potentially as many as 200 employees of The Wave as to what happens next. Ms Geary said the site now cannot operate and The Wave Group, owners of the surf park, is unable to "facilitate a smooth handover due to the significant conflicts".The website is inoperable and Ms Geary claims her access to all digital assets have been blocked, including emails, documents and social media accounts. In a statement, The Wave Group said these actions have "removed the business from the investors and staff that have built and grown the park".It added: "Whilst this is very disappointing to lose a managed site in this way, we are mostly sorry for the upset the actions of others have caused for Wavemakers and clients of The Wave."We march on and are determined to continue our mission to deliver an amazing inland surf experience for all."The company says it remains on track to open a separate namesake site in London in 2027 and also has "several other opportunities under development".Negotiations regarding the immediate future of the The Wave in Bristol are continuing.
Daily Mail
a day ago
- Business
- Daily Mail
Popular inland surfing centre The Wave in Bristol closes suddenly amid financial dispute
Britain's ground-breaking popular inland surfing lake The Wave, near Bristol, has abruptly closed amid an alleged row over its finances Existing customer bookings have been cancelled and The Wave's website is mostly down. No new bookings can be made. The closure came with no warning, with surfers and users of the site booked in today arriving to closed doors and an apology written on a sign. Majority owners Sullivan Street Partners claimed the closure followed problems surrounding the bankruptcy of a director of another funding partner, JAR Wave, according to BBC News. A statement from the majority owners said: 'The Wave Group team apologises unreservedly for any upset caused and is doing its best to ensure the situation can be remedied.' The statement said The Wave Group, owners of the surf park, had 'lined up a refinancing alongside its exciting London developments, which would see all creditors repaid in full within a week and is offering to continue to operate the park.' Sullivan Partners said it invested £27m into The Wave in 2023, BBC News said. Hazel Geary, chief executive of The Wave, said: 'This decision has not been driven by operational failure or lack of customer demand - but for a financial technicality completely unrelated to commercial matters.' Highlighting how suddenly the saga deteriorated, on Wednesday The Wave was posting on social media about an upcoming surf festival being held at the centre next month. The Wave opened in 2019 and cost £26million to build. The unique complex could generate up to 1,000 waves per hour. Since opening, the site provided surfing facilities for all abilities, catering for disabled visitors, total beginners and veteran surfers. The Wave's power supply stems from solar and battery storage and since 2019 the complex has welcomed 400,000 people. Since 5 May, The Wave's founder, Nick Houndsfield, has not been a director of the business. The Wave was the fruit of the ambitions of Nick Hounsfield, a pioneering British entrepreneur who wanted to build a unique business that had a positive social impact, with improving health and wellbeing for surfers and non-surfers alike baked in. Hounsfield did not come from a background in property or business, but was an osteopath, who started with £500 in his bank account and managed to raise £27million to build his dream. THE WAVE STATEMENT IN FULL The Wave said in a statement: 'The Wave Bristol has had to shut suddenly today, and also shut down its website. 'This decision has not been driven by operational failure or lack of customer demand—but for a financial technicality completely unrelated to commercial matters. 'The closure follows the bankruptcy of a director of a funding partner, JAR Wave. 'Despite The Wave Group repeatedly offering support and a full repayment to JAR Wave to solve their own issues, the creditor has instead opted to appear to attempt to take control of the business. 'We as The Wave Group, have lined up a refinancing that also provides funding for the initial development for London, which would see all creditors repaid in full within a week of now and is of course offering to reopen Bristol and continue to operate the park. 'To date these approaches have been ignored by JAR Wave, which has instead chosen to appoint administrators for the Bristol operating company. 'The Wave Group team apologises unreservedly for any upset caused and is doing its best to ensure the situation can be remedied.'
BBC News
25-02-2025
- Business
- BBC News
Enfield: Plans progress for London artificial surfing lake
London could get "a slice of the ocean inland" as plans for a £50m artificial surfing lake progress, the company behind it has said. The Wave wants to develop 56 acres of land in the Lee Valley regional park in Edmonton, north said the project is in its early stages but they hope to submit a planning application in the plans are due to go to public consultation next month. A purpose-built surfing lake, green space, skateboarding areas, playparks, and health and wellbeing activities could see 100 acres of land transformed.A spokesperson for The Wave said it has signed a contract with Endless Surf to install the wave-making technology. Hazel Geary, chief executive of The Wave, said she was "so excited" the plans are progressing as London "is the perfect location" for inland added: "We have been working closely with Lee Valley for a number of years to develop plans for this incredible, but underused, land in Enfield".The project is also intended to increase biodiversity, enhance green space, and encourage people to engage with nature, the company Lee Valley park is already home to an artificial white water rafting centre, and hosted the canoe events for the 2012 London Olympic games. Shaun Dawson, chief executive of the Lee Valley Regional Park Authority (LVRPA), which owns the land, said he supported the project and hoped it would bring visitors and jobs to the area."This would open up surfing for millions of people," he said.A final planning decision will eventually have to be made by Enfield Council and the mayor of London.
