Liquidators appointed at North Wales water sports facility


Published: 10th December 2019

Liquidators appointed at North Wales water sports facility

A North Wales based water sports centre has entered liquidation.

Ian McCulloch and Jason Greenhalgh, partners at business recovery and rescue specialists Begbies Traynor, were appointed joint liquidators of Colwyn Bay Watersports CIC on 3 December 2019. 

The company, based at Porth Eirias, offered tuition for locals and tourists in sailing, windsurfing, kayaking and powerboating through a Royal Yachting Association (RYA) scheme. It also hired out sailing, windsurfing, kayaking and canoeing kit. 

The company is registered as a Community Interest Company (CIC) and has worked closely with Conwy County Borough Council since being founded in 2012. Many schools and community groups have benefited from the water-based activities offered over the years. The skills of volunteers have been developed with many gaining qualifications and going on to work in the industry and even compete at national level.

Now a buyer is being sought for the name, goodwill and assets, which include a substantial quantity of water sports equipment including wetsuits, buoyancy aids, kayaks, windsurfing equipment and boats.

Ian McCulloch, partner at Begbies Traynor, said: 

"It is regrettable that a positive, long-standing community initiative like this has arrived at this position. The directors decided to take action now, during the quieter winter season, to avoid disruption for people who have come to see it as a popular feature on the beachfront in the spring and summer months. 

"We are optimistic that there will be interest out there from people to acquire the assets and we are working closely with the directors of the company and the local council to welcome expressions of interest.”

Taffy Osborne, Managing Director said “It is with great regret that we have to close. I would like to thank all our customers, instructors and volunteers for their fantastic support. It has truly been a pleasure to provide many thousands of on-water sessions to people from all walks of life.”

Interested parties should call Begbies Traynor directly on 01772 202 000.


About the author

Ian McCulloch

Director

Meet our Team of Experts

Having entered a career in insolvency straight from University, Ian has been part of Begbies Traynor Group since 2006. He initially worked in the personal insolvency team before moving to the corporate team at Preston in 2008. He qualified as an IP in 2010 and has dealt with a number of appointments in the North West area.

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