Game of Thrones studio tour in Banbridge suffers big financial losses

The Game of Thrones studio tour in Banbridge opened in 2022

The company behind the Game of Thrones studio tour has undergone a significant financial restructuring after a disappointing initial performance.

The attraction at Linen Mill Studios in Banbridge, County Down, opened in February 2022.

Accounts for Linen Mill Studios Ltd say the facility has incurred "substantial operating losses" since opening.

Control of the business has passed from Northern Ireland-based company John Hogg Group to US firm Stephens GOT LLC.

The accounts, for the year ending 30 September 2022, say the tour opened to "highly positive reviews".

However it adds that due to "prevailing economic post-pandemic conditions" it encountered a slow start.

The grand map courtyard in King's Landing is on display on the tour

The value of the attraction has been written down by almost £14m, shareholder loans have been converted into shares and Stephens GOT LLC will inject £5m into the business.

The company said those actions had strengthened the balance sheet and meant it could continue to operate as a going concern.

Low visitor figures

The directors added that while they "believe the studio tour is a world-class tourism offering [they] concede it will take time for the attraction to become established while the travel industry also recovers".

Group accounts for John Hogg & Co show that the difficulties with the studio tour led to £3.3m pre-tax loss last year.

Visitors to the studio tour can see the Iron Throne from the series

A note in the accounts says: "Initial visitor numbers at the Game of Thrones tour were low and a decision was taken to impair the asset and divest of the group's controlling interest in Linen Mill Studios."

Linen Mill was one of the filming locations for Game of Thrones in Northern Ireland.

The Great Hall of Winterfell and Castle Black sets have remained in place there since filming ended in 2018.

Other sets have been reconstructed and iconic props like the Iron Throne added for the 110,000 sq ft attraction.

The fantasy show ran for eight series on HBO in the US and Sky in the UK, and was one of the most successful series in TV history.