Greens slammed after Brighton's iconic i360 attraction went bust

Green Party councillors have been slammed after Brighton’s i360 attraction went bust owing taxpayers £50 million.

The owner of the 531 ft observation tower, Brighton i360 Ltd, has filed for insolvency, blaming bad weather and the cost-of-living crisis for poor visitor numbers.

The firm borrowed £14 million from Brighton & Hove City Council in 2012 and another £36 million two years later.

Although the council was controlled by Labour, its members abstained from voting on the project and the loans were waved through by the Greens.

Tory councillor Ivan Lyons said: ‘Alarm bells should have been ringing, but the Green Party was determined to support it with public funds.’

Green Party spokesman Steve Davis said: ‘Alongside the i360 came a huge amount of regeneration.’

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 have also affected ticket sales.

The company yesterday filed a notice of its intention to appoint administrators with the High Court, according to Interpath Advisor, which is managing the attempted sale.

'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 closing unless a buyer can be found,' Interpath's Charlie Carter said.

The attraction was designed by architects David Marks and Julia Barfield, and built on the site that used to marked the entrance to Brighton's ruined West Pier, before it burned down. 

The observation tower is set to remain open in the immediate future with business as usual.

Visitors are able to see across the city and the country's south coast from an impressive height, and can also ride on top of the capsule while it rises and falls.  

Julia Barfield, Chair of Brighton i360 Ltd, said: 'After careful consideration, we have made the difficult decision to file a notice of intention to appoint administrators. 

'This decision is a direct result of escalating costs, unfavourable summer weather conditions, and the ongoing cost-of-living crisis, which have collectively led to a significant decline in consumer spending across the UK.

'We continue to work closely with the council maintaining ongoing communication and collaboration throughout this process.' 

She added: 'We would like to reassure both our valued employees and customers that we remain fully operational. We sincerely appreciate your ongoing support and are committed to keeping you informed with any important updates as soon as they become available.'