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Liverpool boat firm fails to stay afloat 24 June 2013

The company that operated the Liverpool ‘Yellow Duckmarine’ boat tours has entered administration after one of its craft sank last week. 30 jobs have been lost as a result of the administration at Liverpool-based Pearlwild Limited.

Colin Burke and Gary Corbett of accountancy firm Milner Boardman & Partners have been appointed as joint administrators.

Burke, junior partner at Milner Boardman said: “The events of last weekend are well documented and the Yellow Duckmarine company has had to cease operations whist the directors, in conjunction with the appropriate authorities, investigate ways of making further safety adjustments to the vessels.”

27 people were treated in hospital after one of the company’s amphibious tourist craft sank in Liverpool’s Albert Dock on 15 June, although no-one was seriously injured.

As a result of cooperation with an investigation into the incident by the Marine and Coastguard Agency, the company has had to suspend suspended all operations.

With no other source of income, the directors of Pearlwild have placed the company into administration.

Burke explained: “This work will take some time and therefore, sadly, it has been necessary to make a number of redundancies today, with a skeleton staff being retained to deal with a number of administrative matters.

“The company has retained advance payments and deposits in an account designated for that purpose, and therefore customers who have pre-booked will be offered the opportunity to reschedule their trips or to have their monies returned to them.

“The directors remain hopeful that the business can be restarted as soon as they have completed their works.”



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