The company leading the sales process has given a statement confirming the i360 will close if a buyer cannot be found.
Brighton and Hove City Council has received notice from Brighton i-360 Limited of the board’s intention to appoint administrators.
Interpath are leading the sales process and it is understood they will be appointed as administrators.
Charlie Carter, from Interpath, said: “The Brighton i360 has become an iconic visitor attraction, welcoming hundreds of thousands of visitors each year, but unfortunately is now at real risk of closure unless a buyer can be found.”
After going into administration, it is unlikely that a buyer would take on the debt. But once the administrators are appointed, the council will rank as a secured creditor in the administration process.
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