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The Wave Bristol: Inland surfing lake closes in financial dispute The Wave Bristol: Inland surfing lake closes in financial dispute
(32 minutes later)
The Wave opened on the outskirts of Bristol in 2019The Wave opened on the outskirts of Bristol in 2019
A popular inland surfing lake has been closed because of a row over finances.A popular inland surfing lake has been closed because of a row over finances.
The Wave, on the outskirts of Bristol, shut suddenly on Thursday and cancelled bookings, with most of its website inoperable.The Wave, on the outskirts of Bristol, shut suddenly on Thursday and cancelled bookings, with most of its website inoperable.
Majority owners Sullivan Street Partners claimed the closure followed problems surrounding the bankruptcy of a director of another funding partner, JAR Wave. The BBC has approached the firm for comment.Majority owners Sullivan Street Partners claimed the closure followed problems surrounding the bankruptcy of a director of another funding partner, JAR Wave. The BBC has approached the firm for comment.
A statement from the majority owners said: "The Wave Group team apologises unreservedly for any upset caused and is doing its best to ensure the situation can be remedied."A statement from the majority owners said: "The Wave Group team apologises unreservedly for any upset caused and is doing its best to ensure the situation can be remedied."
Signs outside The Wave on Thursday said it was closed "due to circumstances" beyond their controlSigns outside The Wave on Thursday said it was closed "due to circumstances" beyond their control
A statement said: "The Wave Group, owners of the surf park in Bristol, has lined up a refinancing alongside its exciting London developments, which would see all creditors repaid in full within a week and is offering to continue to operate the park."A statement said: "The Wave Group, owners of the surf park in Bristol, has lined up a refinancing alongside its exciting London developments, which would see all creditors repaid in full within a week and is offering to continue to operate the park."
Sullivan Partners said it invested 27m into The Wave in 2023. Sullivan Partners said it invested £27m into The Wave in 2023.
The Wave CEO Hazel Geary said: "This decision has not been driven by operational failure or lack of customer demand - but for a financial technicality completely unrelated to commercial matters."
The complex, which opened in 2019, cost £26m to build and can generate up to 1,000 waves an hour.The complex, which opened in 2019, cost £26m to build and can generate up to 1,000 waves an hour.
It provides a gentle swell for aspiring surfers, as well as fast, hollow waves for veteran wave riders.It provides a gentle swell for aspiring surfers, as well as fast, hollow waves for veteran wave riders.
The Wave celebrated its five-year anniversary with an evening of live music surfing on 25 October, 2024 The Wave celebrated its five-year anniversary with an evening of live music and surfing on 25 October, 2024
It is powered using solar array and battery storage, which created more energy than the site used each year, according to the The Wave team.It is powered using solar array and battery storage, which created more energy than the site used each year, according to the The Wave team.
Since 2019, it has welcomed 400,000 visitors and enabled 400 para surfers to surf as part of regular surf sessions.Since 2019, it has welcomed 400,000 visitors and enabled 400 para surfers to surf as part of regular surf sessions.
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