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Azets’ Simon Monks, Nicola Clark, and Colin Haig have recently been appointed joint administrators of Port Dinorwic Marina Limited.
Port Dinorwic Marina Limited provides berthing and marine services at the Grade II listed marina at Port Dinorwic, with 180 berths offering year-round cruising in the strait which separates North Wales and Anglesey.
The company has experienced financial difficulties in recent months, with operations not reaching full potential due to the ongoing economic uncertainties since the start of the year.
Port Dinorwic Marina was acquired in 2017 by The Marine and Property Group Limited, which was also put into administration in April 2023.
The joint administrators will continue to trade Port Dinorwic Marina Limited while completing a rapid assessment of marina operations.
Monks, restructuring director with Azets and joint administrator, said: “Port Dinorwic Marina Limited has been experiencing significant financial difficulties in recent months, to the extent a viable turnaround could not be achieved outside of an administration process, despite the best efforts of the board.
“We will immediately begin the process of understanding the underlying issues and finding a sustainable solution, with a view to achieving the very best outcome for staff, creditors and the local community. In the meantime, the continued cooperation of stakeholders is appreciated.”
