Bewl Valley Sailing Club faces administration due to financial woes

A sailing club located on one of the South East’s biggest reservoirs is set to go into administration due to ongoing financial issues.

The Laberhurst-based Bewl Valley Sailing Club, founded in 1967, has informed its members to remove all boats from the lake.

The club cannot afford the £160k rent, which the owners agreed upon in 2008, and it is facing insolvency, BBC reports.

Trevor Spink, Vice Commodore of the club, penned a letter to all 600 members that stated: “This year’s fall-off in membership renewals forced us to approach the landlord, Bewl Water Boating Ltd. to renegotiate the level of rent the Club has to pay.

“The membership renewals looked initially strong and in-line with last year’s figures, more people renewed early. However it became apparent we had many fewer latecomers renewing. This in turn caused a revised view of the targets for training this year.

“We have already paid the landlord some £39,943 in the first 3 months of this year, this is as much as any other inland club the RYA could give us figures for pays in an entire year. Our request was for a rent-free period and to renegotiate the rent in-line with a level the Club could bear moving forward.

“Unless an alternative source of funding is made available to the club we are now unable to pay our debts as they fall due. The lease offers us 21 days of protection before the landlord can enter the premises, however with seven days notice they could seize assets to cover their losses.”

An emergency meeting will be held this Sunday where members can debate any options to secure the club’s future.

Members may be asked to pay the £40k owed in rent immediately and then raise further funds throughout the year, or they may decide to put the club into administration. The final scenario would see the club go into liquidation.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →