Hopes for the return of the historic Hythe ferry have been dashed as the firm confirmed it has gone into liquidation.
The service, which connects Hythe and Southampton, has been out of action since August 2024 when engineers rendered the boarding pontoon unsafe.
Hythe ferry has been out of action since August 2024 (picture: Google)
Despite “extensive efforts” to find a buyer, the Hythe and Southampton Ferry Company has confirmed there have been no viable proposals or interested parties.
As reported, in February the operator confirmed the “iconic” ferry was up for sale. Isle of Wight ferry operator Red Funnel had bought the service in 2023, and independent organisation the Hythe and Southampton Ferry Company was set up shortly after to manage the route.
Fresh hope for the ferry came with the news that investment firm Njord Partners – which has a track record of revitalising UK businesses – had acquired Red Funnel.
However, a spokesperson for the Hythe and Southampton Ferry Company later told the A&T the company continued to operate as a separate business. It also set up a Crowdfunder page to raise the money for repairs.
The decision to sell came after Njord Partners said its “expertise and portfolio aren’t best suited to operate the service moving forward”.
The Hythe ferry (picture: Alan Titheridge)
A statement from the Hythe and Southampton Ferry Company issued today (Thursday) said: “Over the past 18 months, The Hythe and Southampton Ferry Company and its owners have worked extensively to find a sustainable solution that would allow the Hythe Ferry to resume service.
“During this time, every possible avenue has been explored, including seeking additional funding, exploring grant opportunities and actively inviting interest from potential investors or operators who may have taken the business forward.”
It added: “Despite these extensive efforts, sadly no viable proposals or interested parties have come forward. As a result, the directors have reluctantly concluded that it is no longer able to see a way to restore the service.
“Following legal advice, the decision has therefore been taken to place the Hythe and Southampton Ferry Company into creditors’ voluntary liquidation. Corporate restructure specialists Leonard Curtis have been appointed to assist with this process.”
The statement continued: “This is a very sad outcome. The Hythe ferry is a much-loved service with significant heritage value, and this decision has only been reached after exhausting every possible option over an extended period.
“Throughout the suspension of the service, which began due to infrastructure challenges, the company continued to support its employees and ensured that staff were paid while efforts were ongoing to secure a solution. All staff members have been contacted and will be supported through the process by the liquidators.
“We would like to thank the staff of Hythe ferry, customers, stakeholders and the wider community who have supported the ferry over the years. While this outcome is extremely disappointing, every effort has been made over the past 18 months to find a viable path forward for the business.”