Marine Industry News reports that the Jubilee Sailing Trust (Tenacious) Ltd has closed and its assets, including the tall ship Tenacious, will pass into receivership.
It follows the auction earlier this year of the JST’s former flagship tall ship Lord Nelson after the troubled charity was placed into administration in August 2022. The ship was not sold as there were no buyers.
While the Jubilee Sailing Trust charity remains active as a separate entity, it faces the prospect of a Charity Commission as to whether it too can continue.
As previously reported on Afloat.ie, Tenacious is not only the largest wooden tall ship of her kind in the world but also has access throughout for people with various disabilities.
However, as the statement announcing the closure says: “Unfortunately neither our voyage sales nor our fundraising efforts have been successful in meeting the circa £150k/month required to operate Tenacious and keep her legally compliant to deliver our voyages, nor to repay the historic debt (circa £477k) accumulated prior to the September 2022 change in strategy.”
Marine Industry News has more on the story HERE.
This story was updated on 19 December to clarify that the tall ship Lord Nelson was not sold in its 2022 auction.
