Revenue lost when its Suffolk village was closed due to fire damage
Center Parcs lost £6.2m due to insufficient business interruption (BI) cover for its Suffolk-based holiday village, which closed for over a year after being damaged by fire in April 2002.
In its recently published annual report, Center Parcs said: "While the group received an element of business interruption proceeds...it is the opinion of the directors that this did not make up for the lost contribution of the village."
The report said it estimated the "net loss of contribution" from the holiday village during the year was £6.2m. A Center Parcs spokesman said it did have some BI cover with AXA, under which a claim was "satisfactorily settled" in July 2003.
The fire caused damage to a ten-pin bowling alley, seven restaurants, the kitchen block, five shops and two sports halls at the Center Parcs site.
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