2 November 2016: BRI’s Southampton Office has been instructed by the directors of Ryde Arena Ltd to assist them in placing the company into Creditors’ Voluntary Liquidation.
The company began trading in April 2015 as a “not for profit” organisation. It took over running the Ryde Arena Ice Rink on the Isle of Wight when the previous operator, Planet Ice, announced that it would no longer do so. The company provided facilities for the whole community as well as a home stadium for local sporting talent that competed nationally; the Wightlink Raiders Ice Hockey Team and the Wight Jewels Synchronised Skating Squad.
A dispute arose between the company and its landlord following storm damage to the arena’s roof in November 2015. This led to the temporary closure of the building during what would have been the company’s busiest trading period of the year. When it reopened, there was disagreement over the rent that should be paid as the landlord did not fully repair parts of the building that the company would have used to generate income. The dispute was not resolved and it resulted in the landlord instructing bailiffs to enter the building and forfeit the lease on 6 October 2016.
Alan Limb, the Insolvency Practitioner from BRI who is assisting the directors said, “the directors were introduced to us soon after the company’s landlord forfeited its lease. This caused the company to stop trading immediately. The directors have taken the decision to place the company into liquidation because they do not believe that it will be able to trade again. “