Brighton's i360 tower faces closure after filing for administration
The seafront landmark could be demolished if a buyer isn't found
Brighton's i360 could be closed by the end of the year after its owners announced plans to appoint administrators.
The seafront attraction, close to the old West Pier, first opened in 2016 following a decades' worth of planning.
But lacklustre visitor numbers have helped to contribute to continual financial worries, with bosses missing repayments to a loan taken out from Brighton and Hove City Council.
As of November 2024, the authority was still yet to receive £51 million pounds, with their last payment being received in June of last year.
In a statment, the authority said that once the company, Brighton i-360 Limited, is in administration, the administrators from Interpath will review their options generally including, if financially viable and sufficient visitor demand exists.
They hadded that the businsess would continue to trade and the tower would remain open for the short- to medium-term while the administrators attempt to find a buyer.
The fate of the building is not currently known, with the possibility that it may be pulled down entirely if a buyer is not found or does not want to keep the building.
The actual loss to the council relates to the underlying loan debt and interest repayable to government which stands at circa £32million.
Councillor Jacob Taylor, Brighton And Hove City Council's deputy Leader and cabinet member for Finance and City Regeneration, said: 
"It is extremely disappointing that the Brighton i360 is filing for administration.
"This leaves a large unpaid amount to the city council, which will have an impact on the overall budget.
"I think it is important that the council and the city reflects on the decisions that have led us to this point – and learn lessons for the future."
Plans for a major development on land next to Brighton’s West Pier were first submitted to the council on 17 July 2006. Planning permission and Listed Building Consent were granted on 11 October 2006.
To support the building of the Brighton i360, councillors agreed to take out a government loan and pass it on to developers. The loan was from the Public Works Loans Board (PWLB) – a government funding agency who made loans available to major building projects at the time.
In July 2022 councillors were asked to consider new terms for the loan made to the Brighton i360. The restructure meant that the council would take nearly all profits that the Brighton i360 made.
In February 2023 councillors agreed to a new operating strategy that gave the attraction more time to turn things around.