The Wave Bristol, a prominent inland surfing lake near Somerset, remains closed with its future uncertain following a sudden shutdown last week. The closure stems from a tangled dispute over ownership, debt, management, and administration.
Administrators appointed in April by one of the major shareholders have now sold the site to a new entity called Surf Bristol Limited. Julian Topham, founder of the Boardmasters surf and music festival and chairman of Surfing England, alongside Vision Nine, is temporarily managing the facility. Despite hopes to reopen on June 29, plans collapsed at the last minute, leaving around 200 staff members uncertain about their futures.
In a recent statement, Topham acknowledged the challenges ahead and appealed for patience: “The Wave is an essential part of the UK surfing community. We want to ensure it remains diverse, inclusive, and thrives long-term.” He vowed to work swiftly to reopen the site but warned of a transitional period as the new management settles in.
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The Wave’s financial troubles date back to April when The Wave Group, the business behind the site, entered administration. Founder Nick Hounsfield was forced out during restructuring, with Sullivan Street Partners—the majority shareholder and London-based investment firm—deeply involved. They had invested heavily to develop and sustain the business through the pandemic but struggled after a minority shareholder, JAR Wave, also went into administration.
Tensions escalated last week when administrators unexpectedly closed the lake, citing “technical insolvency.” Sullivan Street Partners claimed they were on the verge of a refinancing deal that would have allowed a reopening, only to find the site sold without their consent. They accused a minority shareholder and associates of acting against the company’s and creditors' interests by orchestrating the sale to acquire the business at a reduced value.
Adding to the turmoil, Sullivan Street Partners revealed they still hold rights to The Wave’s name, meaning new owners may be unable to use the brand. The firm also reported a cyberattack that compromised customer data, causing disruption and forcing them to notify police.
Despite the setbacks in Bristol, Sullivan Street Partners insist they remain committed to expanding The Wave brand, with plans for a new inland surfing site slated for London in 2027 and other ventures underway. They expressed regret over recent events but reaffirmed their dedication to bringing innovative surf experiences to the UK.