Brighton's i360 tower closes with 109 job losses as owners go into administration while owing council £51million
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Brighton's financially troubled i360 tower has closed with immediate effect, with the owners confirming 109 job losses just days before Christmas. The 162metre observation tower, which sits on the coastal city's seafront and was designed by architects of the London Eye, opened in 2016.
![[Owners Brighton I360 Ltd, failed to pay £51million of debt to the local council, which funded the tower's construction using money from the government's Public Works Loan Board in 2014]](https://i.dailymail.co.uk/1s/2024/12/20/18/93362939-14214787-image-a-12_1734718722374.jpg)
But owners Brighton I360 Ltd, failed to pay £51million of debt to the local council, which funded the tower's construction using money from the government's Public Works Loan Board in 2014. Debts accumulated when the attraction was hit by a fall in visitor numbers during the pandemic, while additional attractions such as a roller skate rink also affected ticket sales.
![[Debts accumulated when the attraction was hit by a fall in visitor numbers during the pandemic, while additional attractions such as a roller skate rink also affected ticket sales]](https://i.dailymail.co.uk/1s/2024/11/27/11/92540851-14131969-image-m-6_1732708366965.jpg)
The company last month filed a notice of its intention to appoint administrators, who today informed staff they had been made redundant after the company failed to find a new buyer. In a statement, Brighton & Hove City Council said it would investigate 'how the decision at the time of agreeing the loan came to be made and learn lessons for the future.'.
![[Brighton & Hove City Council said it would not be taking over the operation of the attraction or investing any more money into it, with the £51million debt considered 'a financial disaster for the council']](https://i.dailymail.co.uk/1s/2024/12/20/18/92540821-14214787-The_Brighton_i360_observation_tower_pictured_is_facing_closure_o-a-15_1734718835463.jpg)
It added that it would not be taking over the operation of the attraction or investing any more money into it, with the £51million debt considered 'a financial disaster for the council'. Councillor Jacob Taylor, deputy leader and cabinet member for finance and city regeneration, said: 'We've been working closely with the Brighton i360 for months to try and find a buyer and avoid this outcome, but unfortunately no viable offers have been received.
