Bridge liquidator appointed to Ensign Craft
Bridge liquidator Alex Cadwallader called into Ensign Craft, the events company behind the European and National Powerboat championship races
Competitors at Harwich Powerboat Festival
Bridge Business Recovery partner Alex Cadwallader has been appointed
liquidator to events management business Ensign Craft.
Cadwallader was appointed following a decision from sole director Barbara
Spraggons to place the business in a creditors’ voluntary liquidation.
Ensign Craft was the events company behind the Harwich Powerboat Festival.
The festival was established to host the European and British National Powerboat
championship as well as evening concerts.
However, powerboat racer Ian Stirling died in an accident on the water at the
end of July during a championship race. The accident damaged ticket sales.
Cadwallader said: “The accident led to a substantial loss of revenue for
Ensign Craft from which it was unable to recover. It is highly likely that if
the tragic event hadn’t occurred, the company wouldn’t have made these losses or
been placed into liquidation.”
Barbara Spraggons is the largest creditor having loaned the company more than
£100,000.
Further reading:
Bridge
Recovery liquidators called in to Sixty UK
BDO
liquidators appointed to Kiss Flights