London Resort calls in administrators

Formed 12 years ago to build a £2.5bn resort near Dartford, which at one point had the backing of Hollywood studio Paramount, developers had planned to build Britain’s largest theme park – more than double size of Alton Towers. Initially called Paramount London, it was originally scheduled to open in 2018 and promised to bring 27,000 jobs to the area and attract up to 15 million visitors a year.  

Initial plans for the site was for it to include rides inspired by Paramount films such as The Godfather, alongside BBC programmes such as Doctor Who and Top Gear, and ITV’s Thunderbirds. 

However, the project faced repeated delays due to environmental concerns and local opposition, with the company dropping its planning application 12 months ago after a rare spider was found on the 1,245-acre site. 

Administrators have now been called in to oversee a Company Voluntary Arrangement, with a spokesperson for the business saying the process has received support from its creditors, which would see their debts converted into shares.  

They added: “Many millions have been invested into the Swanscombe Peninsula over the last decade and there remains a fantastic opportunity to bring forward exciting proposals.”