Aberystwyth Marina Limited - administration

Aberystwyth Marina Limited, a Ceredigion marina, entered administration on 30 June, two months after its parent company, The Marine and Property Group Limited, failed to pay thousands of pounds in staff wages and itself entered administration. The impact of the Covid-19 pandemic on marina occupancy and inflation in 2022 caused cash flow problems and trading performance to decline significantly. Following an unsuccessful attempt at refinancing, two of the group’s marinas – Burry Post and Port Dinorwic – also became insolvent in March 2023. Damian Webb and Christopher Lewis of RSM were appointed Joint Administrators. Reward Finance Group Limited and Tab London Limited each has a registered charge against the company.