THE OWNER of Brighton pier has settled £5 million of business interruption claims with its insurers after being forced to close during the pandemic.

Brighton Pier Group said it has received £4.1 million for the insurance claims and has received confirmation of a final £900,000 yesterday.

The group saw their shares surge by almost a quarter in early trading overnight after it confirmed the settlement yesterday.

It said the claims related to losses the business faced until the end of June last year, after pandemic restrictions forced it shut to its doors.

The update came as the group said it performed “strongly” over the past quarter, with summer weather, school holidays and a strong bank holiday weekend in August boosting its performance.

The group confirmed they made over £1 million in sales over a single week during the week of the August bank holiday, the first time in the pier’s history.

The Argus: Picture by Scott Miller, Argus Camera Club.Picture by Scott Miller, Argus Camera Club.

It said this reflected £15.9 million in total sales for the 13 weeks to the end of September, up 44% against the same period in 2019 due to people’s “pent-up demand”.

The group added that it was also boosted by “disposable incomes that built up during lockdown” as more people took holidays in the UK amid global travel restrictions.

Anne Ackord, chief executive, said: “The sales over this important 13-week trading period have been very strong across all divisions.

“It is also good to be able to report a new record, with the final bank holiday week of this summer being the first time in the pier’s history that it has achieved gross sales in excess of £1 million over a single week.

“Lastly, I want to thank everyone who works in the group for their contribution to these outstanding results.”

Brighton Pier Group owns Lightwater Valley theme park, which was also part of the claim.

The group, ran by entrepreneur Luke Johnson, received £1.4 million in business interruption claims from insurers in February this year.

They reopened in April this year, welcoming more than 6,000 people, as Covid lockdown restrictions were eased.