Update: Boat share company goes bust

BMF confirms that Challenger Syndicateships heading into administration

The British Marine Federation (BMF) confirmed this morning that Challenger Syndicateships, one of the largest boat share companies in the UK, was going into administration.

The BMF said it was “saddened” to hear the news, adding that the company is no longer a member of the trade body and would not be exhibiting at the upcoming Collins Stewart London Boat Show.

It was also confirmed that Ed Rimmer, Challenger’s MD, had stepped down from his post as board member of National Boat Shows, the organiser of the London and Southampton boat shows.

MBM revealed last night that the company, which had built up an impressive fleet of shared ownership boats, including 27 narrowboats and top of the range motorboats like a Broom 50 and Sunseeker Manhattan 56, had ceased trading.

Mr Rimmer, a well-known industry figure, was unavailable for comment this morning.

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Information from Companies House shows the company as still trading, but with accounts three months’ overdue.

Meanwhile, a web forum has been set up for part owners of Challenger Syndicateships boats. You can find it here.


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