Wed, 17 Jun 2015 | ADMINISTRATION
Financial difficulties have forced BayPoint Sports Centre in Sandwich into administration.
The club has been trading for four years and at the moment is still trading while the administrators from Quantuma Partners assess the situation. Reports have indicated that the club is more than £1.7 million in debt, which is having a detrimental impact on its net worth.
Tony Harrison, owner of BayPoint, spoke to the Thanet Gazette: “I have invested a lot of money in making the business strong and viable for the future and we have just come up short. We are going to restructure the company. We are looking at the long term future and we are still open for business as normal. The administrators have had a look at the business and have seen we are worth saving. They think it's viable."
Gary Lock, a partner at Quantuma, added that the club's problems relate to the fact that membership has not reached “sufficient levels for profitable trading”. He added that by restructuring the company the team have managed to allow the business to continue trading for the foreseeable future while the administrators explore the options for the long term future of the premises.
The BayPoint club is located on an 18-acre site and employs between 20 and 30 people. It boasts four football pitches, a hockey pitch, state-of-the-art gym equipment, an indoor basketball court, children's nursery and squash courts.
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