The Wave, a pioneering inland surf lake located near the M5 in South Gloucestershire, has suddenly closed its doors after the company managing the attraction entered administration.
Opening in 2019, The Wave quickly became a hotspot for surfers and bodyboarders across the South West and beyond, offering the rare experience of riding guaranteed waves inland. Alongside surfing, visitors could enjoy dining, shopping, relaxing on the terrace, or even lodging in on-site luxury tents near Cribbs Causeway.
However, the attraction’s future has become uncertain. Its website is currently offline, and those with upcoming bookings have been notified of cancellations, as reported by BristolLive. A brief update on The Wave’s Instagram story stated: “Due to unforeseen circumstances The Wave will be closed Thursday, 26th June. All customers with surf bookings have been contacted by e-mail with further information.”
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The closure follows financial difficulties triggered by the bankruptcy of a director from a funding partner firm, JAR Wave. Sullivan Street Partners, majority owners of The Wave, announced they are working on a refinancing plan that could lead to a reopening in the near future.
A spokesperson for The Wave Group expressed sincere apologies and said, “The Wave Group team apologises unreservedly for any upset caused and is doing its best to ensure the situation can be remedied. The Wave Group, owners of the surf park in Bristol, has lined up a refinancing alongside its exciting London developments, which would see all creditors repaid in full within a week and is offering to continue to operate the park.”
The company’s challenges date back to April 2024, when The Wave Group Ltd—a firm created by founder Nick Hounsfield in 2017—shifted its registered office from Bristol to London and entered administration. Insolvency specialists Asher Miller and Stephen Katz from Begbies Traynor Group were appointed administrators. Shortly after, Mr. Hounsfield resigned as a director, and by the end of May, the company’s name was changed to SBL Midco.
An administrators’ report published on May 22 revealed the financial strain caused by massive loans taken to build the facility, estimating a £15 million debt spread across various financing entities. The report detailed attempts to find new investors capable of clearing these debts and noted that the facility was effectively put up for sale in May.
Despite efforts, a rescue package failed to materialize in time, leading to the unfortunate decision to close The Wave. The future of this unique surf destination remains uncertain as stakeholders explore options to restructure and revive the park.