Regency Update

Update on Regency: What You Need to Know

You likely received an email from Regency today. Since business jargon can be confusing, here is a simple breakdown of what is actually happening.

The Background

When Regency took over the old Royale parks, their goal was to fix them up (improving safety and appearance) over two years and then sell them to a new owner/attract investment partners to pay back the original lenders.

The Current Problem

We are now at that two-year mark, but there are two main issues:

High Costs: It is still costing too much money to run the parks.

Low Sales: They didn’t sell as many homes last year as they planned.

Because the business isn’t making enough profit yet, it is harder for Regency to find a buyer.

What They Are Doing About It

To make the parks more attractive to a buyer, Regency is trying to cut their spending. They have already outsourced the grounds work and cut some office jobs. Now, they are planning more staff cuts (redundancies), specifically at their head office and among park supervisors.

What Happens Next?

We will be having a meeting this Monday so we'll see if we can get some more news on how this will affect Dunton specifically.