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Old 27 October 2008, 15:14   #1
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Sea Ventures in administration

Just seen this on the web- maybe worthy of note in these times if you have boats with brokers or deposits on boats:-

One of the UK's largest and most established boat dealerships based on the south coast has gone into administration.

Sea Ventures, with offices in Hythe Marina Village, Hamble Point Marina, Brighton Marina, and Guernsey, called in the administrators early in October.

The company was the south coast main Jeanneau agent for yachts and Rigiflex safety boats and dinghies. It was also the UK importer for Aquador powerboats, Sabre Motor Yachts, Back Cove powerboats, and Rodman Muse Motor Yachts.

This news follows the loss of the Portway dealership, which also went into administration a few months ago. Although the circumstances for Portway were completely different, it has however meant the loss of two major yacht dealers on the south coast. In addition, during the recent PSP Southampton Boat Show, a spokesman from the British Marine Federation conceded that many of those exhibiting at the show this year, will not be around to exhibit or trade next year.

Mike Fields of Portland Business and Financial Solutions has been appointed to act as Administrator for Sea Ventures. He can be contacted at 1640 Parkway Solent Business Park, Whiteley, Fareham, Hampshire, PO15 7AH, by telephone on 01489 550440, or by email using the address shown below.

For those who are involved with Sea Ventures, in purchasing and/or selling a boat it is recommended that you contact the Administrator to register your interest. It is understood that the Administrator is not aware of any issues with the client account; and so it is therefore likely that purchase monies on second-hand boats will be safely held in the company's client account.

However, in the case of deposit monies on new boats, the company will more often than not have been required to transfer those monies direct to the manufacturer, and as such you may need to liaise with the manufacturer to try and find a way to protect your interest.

The Administrator's task is to try and sell the business and its assets on and is therefore looking for a purchaser for the business. There are 37 new and used boats, both yachts and motorboats, for sale.
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