Buyer found for Welcome to Yorkshire - but identity currently 'highly confidential'

Lead administrator Rob Adamson said the identity of the preferred bidder is currently "highly confidential" as legal work takes place on confirming the deal.

He said more details would be made public in the coming days but it is understood the preferred bidder intends to buy the business outright rather than just a partial purchase of some assets.

It comes after the tourism agency was put into administration at the start of March following council leaders declaring they would be withdrawing funding from the company and attempting to set up a new destination marketing organisation for the region.

Mr Adamson, Restructuring and Insolvency Partner at Armstrong Watson LLP, said today: “After thorough due diligence we can confirm we have had four parties interested in the purchase of Welcome to Yorkshire.

"We have now identified a preferred bidder from these and are progressing to legal for buyer compliance. At present details are highly confidential and we should have a formal update with more information in the next week or so.”

Yorkshire council leaders had previously confirmed they were interested in buying Welcome to Yorkshire assets, including the organisation's name.

But they have said in recent days they have been unable to comment further due to a non-disclosure agreement with the administrators.

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