BOAT owners in West Somerset were this week given the shock news that Watchet Marina’s holding company The Marine and Property Group Ltd (MPG) has gone into administration.

Damian Webb and Chris Lewis, of audit, tax, and consulting adviser RSM UK, have been appointed as administrators of the company.

The company is part of The Marine Group, a complex web of firms run by Switzerland-domiciled Danish national Christopher Odling-Smee.

Several of the firms, which between them also operate four other marinas in Wales and develop residential and commercial properties nearby, have been in and out of administration in recent years or faced actions to have them dissolved.

A letter sent this week to boat owners using Watchet Marina said the latest administration affected only MPG.

It said: “All other group companies are unaffected by the administration and should to continue to trade as normal.

“The administration has been put in place at the holding group level to assist in the on-going refinancing of the group as previously outlined by the director. 

“The other companies within the group are unaffected and it remains business as usual for the marinas.

“There is no change to berthing contracts or related services.”

Two MPG directors, Drew McDonald and Kerry McDonald, resigned their positions on March 31, leaving Mr Odling-Smee as the sole director and company secretary.

Mr Odling-Smee is also the only remaining director of The Marine Group Commercial Ltd, which went into and came out of receivership last summer after ompulsory strike-off action was discontinued in May, 2021.

He is also sole director of The Marine Group – Projects Ltd, after Mr McDonald also resigned from it on March 31, and which is late filing its accounts with Companies House for the past year and is facing an active proposal for it to be struck off by June 4 after similar action last year was stopped.

In the last accounts available at Companies House, MPG said for the year ended December 31, 2021, it made a profit of £4.342 million on a turnover of £7.887 million.

Mr Odling-Smee had not responded to a request for comment at the time of going to press.