Flux Freestyle in Ipswich enters administration, Kingston Smith & Partners announces
PUBLISHED: 16:06 30 January 2018 | UPDATED: 17:05 30 January 2018
A trampoline park in Ipswich which has been mysteriously closed for over two weeks has gone into administration, it has been confirmed.
Flux Freestyle in Cardinal Park has been closed without notice or public explanation since the morning of Friday, January 12. It is understood children’s birthday parties, most costing over £100, had been booked and paid for until June.
Kingston Smith & Partners, the corporate recovery and insolvency arm of Kingston Smith LLP, has today announced that it has been appointed administrators of Flux with effect from January 29.
The firm has received “a lot of interest from potential buyers”, it announced in a statement.
It added: “Though a popular leisure attraction in a good location, the business (Flux) ceased trading due to significant cash flow pressure.”
An indication of how much money was owed to customers in total is not currently available, a spokesman for the firm said.
Joint administrator Ryan Davies said: “Unfortunately it appears the capital costs were such that the business has been unable to maintain the agreed lease repayments (for equipment).”
The firm said it is working with the landlord Legal and General and equipment suppliers to find new owners as quickly as possible.
Brian Baker, partner at Kingston Smith & Partner, added: “It’s a real shame. The directors put their heart and soul into the venture.
“But the park is already attracting a lot of interest from potential buyers so we are hopeful about a sale going through soon.”
Attempts by this newspaper to reach the two London-based directors for comment remain unsuccessful.
Legal & General, which owns Cardinal Park, has been contacted for comment.
Flux opened at the site of the former Gym and Trim unit in July 2016, above Chimichanga. The site includes wall-to-wall trampolines, airbags, and dodgeball zones.
Families affected by the sudden closure have been offered free birthday parties at Ipswich Borough Council venues and discounted deals at Bounce trampoline park in Anglia Retail Park. Proof of purchase of a booked Flux party is required.
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