The company that owns Aberystwyth marina has announced it has gone into administration - sparking fresh fears over its future. 

The Marine and Property Group Limited today sent out a statement to its berth holders at the Y Lanfa site, as well as those across its four other marinas, informing them of the situation.  

Company bosses said other companies within the group ‘should’ continue trading as normal and the marinas will be unaffected.

It said: “Damian Webb and Chris Lewis (of RSM UK) have been appointed as the administrators of The Marine and Property Group Limited.  

“All other group companies are unaffected by the administration and should continue to trade as normal.  

“The administration has been put in place at the holding group level to assist in the on-going refinancing of the group as previously outlined by the director.  

“As you will note from the statement, the other companies within the group are unaffected and it remains business as usual for the marinas.  

“There is no change to berthing contracts or related services.” 

Despite the firm posting healthy profits last year, many staff have not been paid in full or on time since last February and it has now been revealed they were denied pension contributions for most of 2022.

Pressure has been mounting on the firm after berth holders threatened not to pay mooring fees, equipment was impounded by bailiffs and legal disputes broke out with contractors. One of the firm’s subsidiary companies also narrowly escaped being wound up by HMRC last month and has until 14 June to pay any money owed. 

The Cambrian News has been reporting on developments, particularly at Aberystwyth marina – where financial problems have seemed unending, despite repeated assurances from the firm’s directors that they are only temporary. 

Last week we published the latest pledges from Switzerland-based director Chris Odling-Smee that financial woes were set to end, and staff would be paid. At the time of publication, they still had not been.

It is now understood that all staff at Aberystwyth and the company’s other marinas in Cardiff, Dinorwic, Burry Port and Watchet Harbour were not being paid their pension contributions by the company during much of last year. 

The Cambrian News has contacted the firm for the latest on staff payment.