Brighton’s iconic seafront tower, Brighton i360, has filed for insolvency leaving its outstanding £51m debt to the city council unpaid.
Brighton i360 Limited, the company managing the observation tower, said the decision was due to escalating costs, poor summer weather, and the cost-of-living crisis.
Cllr Jacob Taylor, deputy leader and cabinet member for Finance and City Regeneration, said the decision was ‘extremely disappointing’.
‘This leaves a large unpaid amount to the city council, which will have an impact on the overall budget.’
