Well-known TT host out of business

Snoozebox calls in the administrators

Snoozebox, the company which provides temporary accomodation during the TT period, has gone into administration.

A statement says it's after discussions with its primary lender broke down.

The company says that the "significant debt burden" it took on in 2014 has been one of its largest challenges given the poor financial and operational position of the group"

An attempt to restructure the business got underway last year.

The pod-based accomodation has become a familiar sight behind the TT grandstand in recent years, where up to 160 rooms have been provided.

Snoozebox has applied for suspension of trading on AIM with immediate effect.

More from Isle of Man News