SpeedFerries in administration
BOULOGNE to Dover ferry firm SpeedFerries has gone into administration.
The beleaguered cross-Channel service hit problems last Thursday when its only craft, Speed One, was arrested by the port authorities in France in a dispute over unpaid port fees.
Yesterday it emerged the company also owe a considerable sum to Dover Harbour Board for the use of the Western Dock.
Crunch talks between the Boulogne Chamber of Commerce and SpeedFerries owner Curt Stavis began on Monday but failed to reach an agreement.
SpeedFerries staff were called to a meeting with Mr Stavis at the hoverport this morning and told the firm had gone into receivership. One staff member told the Express they have been asked to continue working, despite being told they won't be paid, as other firms have shown an interest in taking on the business.
This afternoon SpeedFerries issued a notice on its website to announce it has gone into administration.
The notice says: "The affairs, business and property of the Company are being managed by the Joint Administrators, A Swarbrick and T Burton, who act as agents of the Company only and without personal liability.
"On 12 November 2008, on the application of the Directors, the High Court of Justice, Chancery Division, made an Administration Order in relation to Speedferries Limited. Angela Swarbrick and Tom Burton of Ernst & Young LLP were appointed as Joint Administrators of Speedferries Limited.
"The Administration is necessary because of SpeedFerries financial position and to ensure the best interests of creditors and customers are served. The Administrators are currently exploring the option of selling the business as a going concern."
Crossings are cancelled until November 16 but customers are being asked to keep hold of pre-booked tickets in case of "developments."
The directors and existing management structure will remain in place and they will be involved in the day-to-day operations but administrators A Swarbrick and T Burton have overall responsibility for the company.
The option of selling the business as a going concern is being explored
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by yabenreh
Monday, January 09 2012, 4:32PM
“Sad though it is to see Sea France go, personal observation from crossing just before Christmas (back New Year) was that P&O was coping with the traffic perfectly well, having added one ship (for the loss of 3 SF) and with the extra capacity of the `Spirit` class vessels. Port access both sides was better, no queuing in Calais Roads. Filling fewer vessels to capacity is a better solution in these straightened times than pursuit of the myth of `competition`.”
by dave, dover
Wednesday, December 10 2008, 12:16PM
“Go in the small newsagent at the top of London Road, Speedferries owe this small family shop £18,000, yeah thanks for the memories!!!”
by catherine walker, dover
Monday, December 01 2008, 10:33AM
“Speedferries cut prices from the outrageous prices charged by other ferries (except Norfolk line - viva!) and tho we seem to have lost money on buying 5 eturn voyages in advance, bully for Speedferries, spitefully treated by Dover ferry bodies, remember? from the beginning. L&D lines are expected to operate soon (Lloyd Dreyfus) which is a French company viz Porstmouth Le Havre... Thanks Speedferries, we enjoyed your chutspah. Jo Dover”
by Mike, France
Saturday, November 29 2008, 12:04PM
“Leaving aside the very numerous remarks made by partisan Peter of P & O, we remember the bad old days when the cartel of Channel operators held us all to ransom, and we very much appreciated the coming of the cheaper, fast and efficient Speedferries. Since we can be sure that the unhealthy alliance of the Boulogne Chamber of Commerce and the New Operator will hit us, the clients, where it hurts, how about a boycott of Boulogne as well as a demand for refunds of tickets booked and paid for? They're the ones who should stump up!
Anyone interested?
Mike”
by Peter, Dover
Wednesday, November 26 2008, 2:07PM
“If i work for P&O or not makes no diferrence, he didnt pay his bills as the service was not viable, it was too cheap and as fuel prices went up he was unable to raise ticket prices because the passengers would not pay a realistic price.
When you start a low cost operation it is very hard to increase prices to a level which gives a return on your investment.
A fuel surcharge was put in place 18 or so months ago, but passengers were so anti it he had to stop it, and so this service was always going to fail.”