A COMPANY at the heart of plans to redevelop Aberystwyth marina — a centrepiece of Ceredigion’s levelling up project – is denying having difficulty making ends meet.

The Cambrian News can report that the company is facing small claims action over unpaid bills and staff have not been paid in full since February, with the six workers in Aberystwyth still waiting for their wages that should have been paid at the end of September.

Sources have told the Cambrian News that staff are “on their knees” after not being paid in full for months.

A contractor has also taken the company to small claims court over an unpaid bill of £10,000.

The Marine Group owns Aberystwyth marina along with Dinorwic in Gwynedd, Burry Port, Cardiff marina and Wachet in Somerset.

Chris Odling-Smee, one of the directors of the Marine Group denied that there were any issues over staff pay.

He told the Cambrian News: “Everyone has been paid, staff and contractors.

“There is a dispute with one supplier, namely the cleaning company, but we are working to resolve this.

“The company changed banks earlier this year.

“The company is looking to invest in Aberystwyth in the coming years and create around 27 new jobs in the next five years.

“Plans have also been drawn up, but not yet submitted for a new workshop, which could also potentially house the coastguard.”

He went on to say categorically that staff and suppliers have all been paid.

However, the Cambrian News was told: “They tell staff they can only afford to pay a few hundred pounds then the staff get the rest in dribs and drabs during the month that follows.

“Then they are back to the next pay run and it happens all over again.

“Staff were meant to be paid at the end of September for that month, but are still waiting.­

“Suppliers and services have not been paid and various county court claims continue to mount up.

“Staff at the marina office are having to deal with suppliers chasing for outstanding debt, threats to cut off services and utilities.

“Staff are continually not sure when they will receive any of their salaries from month to month.”

Despite the worrying concerns raised over the company, the latest accounts filed just two weeks ago with Companies House show that The Marina & Property Group – the parent company of nine other companies including Aberystwyth Marina Limited which runs the town’s 165-berth marina – filed earnings before taxes of more than £1.7 million for the period between December 2020 and December 2021 on a gross profit of more than £4.3m.

Ceredigion County Council told the Cambrian News it “is not in a position to comment on the undertakings of a private enterprise, nor would it be appropriate to comment on recent speculation surrounding the business.

“In respect to public funding, the council has a duty to carry out financial due diligence on any potential partner that may receive funding. Regular assessments have been undertaken throughout, with updated reviews being undertaken when updated information is received.

“In respect of the Mid Wales Growth Deal, the proposal submitted by the council does not involve the company as a formal partner at this stage. The initial bid for funding is for developing the public infrastructure and assets within the ownership of the council, that would likely go to the market for development. The council can therefore confirm that the overall aspiration and plans in relation to this particular proposal remain unchanged at this stage.

The council said it has also been successful in securing £10.8m of Levelling Up Funding for Aberystwyth – this is a package bid that included additional works on the Old College, improvements to the promenade and also the harbour area.

“A rapid review is being undertaken to understand any potential implications pertaining the marina element of project,” Ceredigion County Council told the Cambrian News.

“The council remains completely committed to realising the overall aspiration of regenerating the town, including longer term aspirations relating to the harbour area. Greater connectivity with the town, combined with improved recreational and leisure facilities remain central to the scheme’s objectives.

The accounts provided to Cambrian News say that the group as a whole “continued to perform per plan in 2021”, with the group installing a new five-year business plan which will be reviewed monthly.

Accounts also say that “occupancy and rates” at all its marinas, including Aberystwyth, “are accelerating and we expect growth to continue in 2022.”

The group as a whole owns and operates 75,000 square feet of commercial property in its various locations.

The accounts also add that the group “plans to build further facilities at its current locations” and that “further marinas and harbours will be added to the portfolio over the coming years”.

More than 400 people work for the group across its estate.

Staff at other affiliate companies contacted by the Cambrian News declined to comment.

For Aberystwyth Marina Limited itself, accounts filed on 27 September covering December 2020 to December 2021 show a profit of £106,600, up from a profit of £30,862 for the previous year.

“The current level of activity, the breadth of the company’s customer base and forecasts provides assurance that a strong level of income may be enjoyed and sustained on a long-term basis,” Aberystwyth Marina Limited accounts notes say.

— With additional reporting by Chris Betteley and Mick O’Reilly