Plans for the £3.5 billion London Resort are seemingly set to come to an end after a judge in the High Court ordered the firm behind them to be wound up.
Unveiled nearly 14 years ago, the London Resort was billed as the UK’s answer to Disneyland Paris. It was to feature two theme parks across 535 acres of former industrial land on the Swanscombe Peninsula near Dartford in Kent.
Now, London Resort Company Holdings (LRCH), the developer behind the project, is in a High Court battle with Paramount Pictures, which was set to lend its IPs to the park’s attractions.
The entertainment giant is accusing LRCH of failing to keep up with payment agreements to its creditors.
Following the High Court application by Paramount Pictures, an insolvency judge has found that London Resort Company Holdings has ceased trading and is seemingly unlikely ever to do so again, the Times reports.
London Resort Company Holdings withdrew its planning application for the theme park in March 2022 after the Swanscombe Peninsula was designated a Site of Special Scientific Interest (SSSI) by Natural England. The site houses a rare spider.
High Court battle with Paramount
In December 2022, PY Gerbeau stepped down as CEO of the London Resort. Despite his departure, the developers said a new planning application would be resubmitted in 2023.
In March 2023, the company appointed administrators after incurring £100 million in debts. In summer 2024, the site of the proposed park was put up for sale by Swanscombe Development LLP.
Two further hearings will take place to decide the fate of London Resort Company Holdings.
Fortunately for UK theme park fans, Universal Destinations & Experiences is working to bring a world-class destination to the Bedford area.
Images courtesy of London Resort Company Holdings
