Britain’s biggest holiday parks operator is in talks about a £600m debt refinancing months after shelving a sale in the face of a deteriorating trading outlook.

Sky News understands that Parkdean Resorts has appointed bankers at Barclays to work on a deal ahead of hundreds of millions of pounds falling due for repayment in March 2024 and the following year.

The attempt to pursue a refinancing follows its owners’ decision last summer to abandon an auction of the business that was expected to value it at more than £1.5bn.

The postponement of Parkdean’s sale came despite a record financial performance in 2021, as staycation-focused leisure groups enjoyed a pandemic sales bonanza.

Sources said the company was in the process of recruiting up to 11.000 to work at its 66 parks during the peak summer trading period.

Bookings for Easter and the summer of 2023 were “strong”, one said.

“Parkdean Resorts is displaying another year of real momentum with strong bookings for 2023, reflecting our self-catering value proposition which is proving to be very popular with our customers, and we are looking forward to another buoyant UK holiday season,” a spokesperson for Parkdean said in response to an enquiry from Sky News.

BP to miss key climate target as annual profits hit record £23bn

Cost of living: Bank boss warns of ‘headwinds’ as mortgage distress is predicted to rise

Consumer spending still below inflation but cinema and travel outlays buck the trend

“Parkdean Resorts is currently exploring debt market pricing, well in advance of its senior debt facilities maturing in March 2024 and April 2025.”

The company was acquired by Onex Corporation, a Canadian investor, in late 2016 for £1.3bn.

The sector as a whole has benefited from a post-Covid bounceback in sales, prompting a string of corporate takeovers in the sector.

Related posts:

Aston Martin DBX sales drive halving of quarterly losses L&G revolts in furious bid to oust Cineworld pay committee Space fund Seraphim in countdown to London stock market launch Prospect of bidding war for Morrisons drives share price surge French Connection sold in deal valuing business at £29m after years of losses ‘Race for space’ drives average house price above £250k for the first time YO! owner picks float line-up as listings brace for Ukraine volatility New sanctions pack bigger punch – but German opposition could stymie SWIFT measure Energy bills forecast to rise even higher than previously thought Events start-up Pollen on brink of collapse months after $150m fundraising World’s second-richest man sells private jet so climate activists can’t track him Fresh rail strikes to hit peak Christmas travel, RMT union announces