East coast dealer of Four Winns and Mariah motorboats "exhausts working capital"

Boatquays, an east coast dealer of Four Winns and Mariah, has gone into administration, it was confirmed this afternoon.

The company’s administrators, David Elliott and Simon Paterson from Moore Stephens, told MBM the company filed for administration “in view of its financial plight and exhaustion of working capital”.

Boatquays, formerly known as Florida Boats, was started by MD Ant Webb in 2005, and had a significant presence with its Mariah sportsboats at the Earls Court Boat Show last year and the recent Birmingham Boat Show.

The company joins a growing list of boat dealers that have gone to the wall in the last six months, starting with Peters Opal.

Paterson said the company will continue to trade in administration while a purchaser is sought.

No one at the company was available for comment.