Port Dinorwic Marina Ltd (10547576): administration
- Status
- Administration ended
- Administration began
- 2023-06-05
- Administrators
- Colin Michael Trevethyn Haig, Simon David Monks, Nicola Clark
- Administrators' firm
- Azets
- Incorporated
- 2017-01-04
- Location
- Manchester
- Industry
- 33150 Repair and maintenance of ships and boats
Why it went into administration
- COVID-19
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated as Port Dinorwic Marina Ltd on 4 January 2017. Its immediate shareholder is The Marine & Property Group Ltd (“TMPG”), which also holds 100% shares in eight other companies (together with the Company, referred to as the “Marine Group”). The Company owns and operates Port Dinorwic Marina located on the north Welsh coast on the Menai strait and close to the Menai Bridge.
The Company historically traded well, however, has been negatively impacted by the COVID-19 pandemic and, more recently, Marine Group operational issues within its finance team resulting in a lack of meaningful financial information being available. In addition, TMPG was placed into administration on 25 April 2023, which, due to the Marine Group’s central operational and treasury
_ model, caused the Company additional problems in accessing the day-to-day funding required to trade.
Administrators' statement of proposals (2023-08-04) · Companies House register