ACC Liverpool repays millions to city council

M&S Arena and Exhibition Centre Liverpool operator ACC Liverpool repays almost half of its multi-million pound debt with Liverpool City Council – with another big chunk on the way. Tony McDonough reports

ACC Liverpool
ACC Liverpool on the banks of the River Mersey has reported its annual results


ACC Liverpool has reduced the millions of pounds in debt owed to the city council by almost half and has reduced its losses.

In its latest accounts for the 12 months to March 31, 2023, the operator of the waterfront M&S Arena and Exhibition Centre Liverpool, says it has reduced the £7.1m owed to the council by £3.46m. It adds it is about to repay another £1.1m.

Although ACC Liverpool’s annual accounts are yet to be published on Companies House, the council owned complex has released its figures to the media.

They reveal a turnover of £30m, a big increase from the £18.5m reported for the previous year when it was still being heavily impacted by the COVID pandemic. It is also an improvement on the last full trading year before COVID when turnover hit £24.5m.

ACC, which also owns and operates the Pullman Hotel and employs around 250 people, is also reporting  pre-tax losses of £1.76m for the 12-month period against pre-tax losses of £4.3m for the previous year.

Liverpool City Council’s Cabinet recently agreed new long-term governance and lease arrangements for The ACC Liverpool Group which will reduce the financial burden on Council Tax payers.

A repayment plan for outstanding sums, largely due to the COVID-19 pandemic, forms part of the agreement.

Faye Dyer, chief executive of ACC Liverpool Group, said: “This is a really encouraging set of trading results which reflect both our strong recovery, after a successful return to full capacity live events and the impact of targeted business improvement initiatives.

“We are pleased to continue our close working relationship with Liverpool City Council which has been hugely successful since our campus opened in 2008.

“And we remain focused on fulfilling our agreed repayment plan with our landlord, while continuing to invest in our facilities, services and people.

“Events such as Eurovision, World Gymnastics Championships and the Labour Party Conference have supported our return to large scale events but trading conditions remain challenging with ongoing intense economic pressure on energy costs and labour rates.

“We have reduced our operating losses by more than £2.4m in the last year and we are confident that we will continue on this positive trajectory thanks to the hard work of our talented team.”


Labour Party Conference
Labour Party Conference at ACC Liverpool in October 2023
Eurovision 2023
Eurovision 2023 was held at the M&S Bank Arena in Liverpool. Picture by Chloe Hashema/EBU


ACC Liverpool is this year celebrating 15 years of live events, welcoming more than 8.3m visitors and generating an estimated £2.1bn in economic impact for the city region since it opened its doors.

Cllr Liam Robinson, leader of Liverpool City Council, added: “Live events are crucial to the region, giving visitors the opportunity to gather and enjoy their favourite artists or to share knowledge at conferences, not to mention their impact on the visitor economy.

READ MORE: ACC Liverpool events to add £24m to city economy

READ MORE: Metro Mayor to invest £10m in smart ticketing

“The importance of events was hugely apparent during the pandemic reflected in the high numbers of people returning to live events when they were able to.

“The industry suffered significantly, and it is therefore extremely encouraging to see The ACC Liverpool Group reporting a strong set of trading results which continue to look positive for the future.”

Directors’ remuneration for the accounting period, including salaries and pension contributions was £231,908. The highest paid director received £188,733.

You might also like More from author

Leave A Reply

Your email address will not be published.

Username field is empty.