Ferry News Archive
SpeedFerries wound up after failure to find buyer
Date: 26 Nov 2008 00:00 Source: Lloyds ListENGLISH Channel ferry operator SpeedFerries looks to have definitively ceased activity after administrators appointed to run the company admitted that they had failed to find a buyer.
Joint administrators Angela Swarbrick and Tom Burton announced in a statement on the SpeedFerries website that the company would be closed and advised customers with pre-booked tickets to make alternative travel arrangements.
The company’s staff had been told last week that two prospective buyers were in contact with the administrators.
On Tuesday, however, the administrators said: "The joint administrators have been exploring every possible avenue to save the business since November 12, 2008 and it is unfortunate that a buyer for the business has not been found."
They said they would be contacting creditors, including customers, in due course.
SpeedFerries has been operating a single vessel service between Dover and Boulogne-sur-Mer since May 2004.
A self-proclaimed low-cost operator, its arrival on the route antagonised existing Dover Strait ferry operators but was widely welcomed by the car travellers who were its mainstay.
No reason has been given for the financial difficulties which led to the company’s collapse, which was precipitated by the arrest of its sole vessel, SpeedOne, on November 6 against arrears on ports dues claimed by the port of Boulogne. The company was also reported to have run up debts with the port of Dover.
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