Mon, 20 Jul 2015 | ADMINISTRATION
Bewl Valley Sailing Club has entered administration after struggling to keep up with rent payments.
The club has a base at Bewl Water but has urged its members to remove their equipment from the location as quickly as possible. Access to the clubhouse is no longer being given and the sailing club is unable to sanction any activity on the lake.
White Maund have been appointed as administrators. They will oversee the club's affairs now it has been technically declared insolvent.
High rent payments have been identified as the cause of the sailing club's financial distress. The club has been running for 48 years but it can no longer keep up with the rent demands made by its landlord Bewl Water Boating Ltd, which is controlled by West Ham co-owner David Sullivan.
Mr Sullivan owns the company with the head lease of Bewl Water. Their business has been requesting £160,000 a year in rent from Bewl Valley Sailing Club.
Trevor Spink, vice commodore for the club, spoke to Kent Online about the administration: “I hope a new club will form to work with the landlord and in time returns to and even surpasses the standards delivered by BVSC.
"I hope to be working with other former members to make this happen, but I will take a back seat while others with more time and focus can lead the charge."
View other businesses in administration.
Focused on advances in energy storage, energy harvesting motor and drive systems and software. Several projects are approaching proof-of-concept stage and will be ready for commercialisation in the near future. Driven by a highly experienced and qual...
Specialises in the supply, installation and servicing of industry-leading, mainly pneumatically operated personnel lifting equipment for the industrial and transport sectors. Operates directly as the sole UK and Ireland distributor for an internation...
Interested parties are required to submit an expression of interest by 5pm on Tuesday 30th July 2019 with offers to be provided by 3pm on Thursday 1st August 2019. An opportunity exists to acquire the business and assets of this division of a highly...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources