Discover Leisure has revealed it is seeking additional financing options as its business faces pressure from wider economic conditions.
The caravan retailer said that while it enjoyed a seasonal increase in trade in the second half of 2011, revenues were unable to offset losses suffered in the previous winter.
According to the company, turnover for the 12-month period to August stood at £49.8 million – down from £52.3 million in 2010.
Pre-tax losses in this period stood at £1.5 million, compared to £1.8 million at this time last year.
In a statement, Discover Leisure said: “With low season conditions already in place and the expectations of a continued difficult trading environment, the group will come under further significant pressure this autumn and into the winter.”
“The board recognises that it needs to secure additional finance and is therefore actively involved in pursuing a number of opportunities to secure the ongoing trade of the business,” it added.
