of Sands Heritage. Opening of Re-imagined Dreamland The park re-opened on 19 June 2015, garnering much media coverage. BBC Radio Kent spent the opening day broadcasting live from Dreamland. Additional rides opened in July. The entry fee to the park was £14.95. The park's centrepiece, the Scenic Railway, was still in the process of being rebuilt by Thanet District Council. It opened to the public only on 17 October 2015, owing to delays in rebuilding the train carriages. Member and press previews took place on 16 October 2015. Sands Heritage put in a claim for lost revenue as a result of the delay, which was settled in November with a compensation payment by TDC to Sands Heritage after the delay to opening the Scenic Railway forced the company into administration. Administration On 8 December 2015, Sands Heritage were forced to apply to the High Court for a company voluntary arrangement (CVA) in relation to a debt of £2.9m owed to Arrowgrass. This amounted to the original £600 000 owed as a secured loan, plus unpaid compound interest and charges. At a meeting on 23 December 2015 the company's creditors agreed to accept the CVA, allowing the company more time to pay off its existing debts. Sands Heritage representatives at the meeting promised that the debt to Arrowgrass would be repaid over five years - as a secured debt, this took priority over other debts. The insolvency administrators appointed in the CVA were Duff & Phelps. The financial failure was attributed primarily to the number of visitors in the summer season of 2015 being half of what was predicted for the capital structuring of the project. Media reports estimated the cash loss suffered by the company as being on the order of £5 million. The major contributing factor for visitor shortfall was the delay of the Scenic Railway project and lack of communication from the management team of Thanet District Council to Sands Heritage, leading to a premature opening when preparatory works were incomplete. This led to an almost immediate closure of seventeen days to complete these, and the Scenic Railway was to take longer. Also, there were problems with running repairs to rides, leading to breakdowns. Despite popular belief, the admission price cited as discouraging visitors was not the reason for Sand Heritage's cash flow problems; however, the management team and the administrators, Duff & Phelps, abolished it to drive