Liquidation for festival organiser

THE company behind the Harwich Powerboat Festival at the end of July, during which racer Ian Stirling died in an accident on the water, has gone into liquidation.

Insolvency specialists Bridge Business Recovery have been appointed liquidators to Ensign Craft Ltd, the Harwich-based firm established to host the European and British National Powerboat Championships as well as a series of evening concerts.

The final day of racing, on August 1, was cancelled following the tragedy on July 31, resulting in a loss of ticket revenue.

Bridge Business Recovery partner Alex Cadwallader was appointed liquidator on September 16, following the decision of sole director Barbara Spraggons to place the company into a creditors’ voluntary liquidation.

Mr 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 was the largest creditor, having loaned the company more than �100,000, he added.

Ensign had no employees.