Port Dinorwic marina into administration after months of struggles

180-BERTH OPERATION WILL CONTINUE TO TRADE AS ‘SUSTAINABLE SOLUTION’ SOUGHT BY ADMINISTRATORS

A North Wales marina has gone into administration. Simon Monks, Nicola Clark, and Colin Haig, of accountancy firm Azets, have 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 Y Felinheli (pictured above).

It has 180 berths offering year-round cruising in the Menai Strait.

The marina, which dates back to 1763, was acquired in 2017 by The Marine and Property Group Limited, which owns and operates marinas at Cardiff, Burry Port,

Aberystwyth, and Watchet. Property Group Limited was also placed in administration in April 2023.

Port Dinorwic Marina Limited has experienced financial difficulties in recent months, with marina operations not reaching their potential during ongoing economic and financial uncertainty since the beginning of this year.

The joint administrators will continue to trade the business while completing a rapid assessment of marina operations.

Simon 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.”

Interested parties and other stakeholders can contact the joint administrators at PortDinorwicMarina@azets.co.uk