Administration

ENVIRONMENTAL centre Moelyci has gone into administration. The 337-acre farm and environmental centre in Tregarth, near Bethesda, has been community-run for the past 16 years and was set up to stop it becoming a holiday home complex.

But it has struggled financially and now administrators have been called in to the site.

It does not impact on the shop, cafe and Snowdonia Donkey business.

Lindsey Cooper and Jeremy Woodside, of RSM Restructuring Advisory LLP, were appointed as Joint Administrators of Moelyci Environmental Centre Ltd on July 5.

The centre has 740 members and three directors, but no employees.

A spokesman said: “Moelyci had been experiencing financial difficulties for some time.

“The board of Moelyci had been working hard to try and achieve a rescue plan.

“However, it was unable to bring this to fruition in the timescales available.”

Restructuring partner at RSM and one of the joint administrators, Lindsey Cooper, said: “We are in talks with interested parties regarding the sale of the land; and we are hopeful that deals will be concluded within a relatively short timescale to maximise realisations for creditors.

“The administration will not impact upon the trading operations of the shop and café, which are run by Moelyci’s tenant Cwm Harry Land Trust Ltd; nor will it impact upon the allotment holders and the Snowdonia Donkey business.”