New owner for Brighton's i360 tower
A hospitality chain will take over the seafront landmark, which filed for administration in December
The i360 tower in Brighton has a new owner, after a hospitality chain agreed to buy the seafront landmark.
The attraction fell into administration in December after falling into administration, closing suddenly and making 109 employees redundant.
The new owner is Nightcap, which runs more than 40 venues across the UK including The Cocktail Club and Tonight Josephine bar chains.
Under the agreement, Nightcap takes over the remaining 115-year lease of the i360.
It comes after Brighton and Hove City Council agreed to write off the i360's £51 million debt last month so that it could be sold and get back in business.
The council's deputy leader, Jacob Taylor of Labour, said:
"We are delighted that Nightcap has taken such a keen interest in revitalising the i360, and their passion and commitment to the city is evident.
"We think this is the best option for the city - giving a fresh start for the attraction, and helping to ensure this important stretch of seafront can thrive."
Sarah Willingham, founder and chief executive of Nightcap and former Dragon on Dragons' Den, said:
"We couldn't be happier to welcome the i360 to the Nightcap family and delighted that Brighton and Hove City Council has paved the way for us to keep this iconic landmark open.
"We pass the i360 every day and were as disappointed as everyone else when it went into administration and no buyer was found.
"The impact of its closure would have been catastrophic to our local businesses and a blemish on this important part of the Brighton seafront.
"We hope we will get the support of our tight knit local community as we embark on this new chapter for the i360."