23/02/2024
Friday 23rd February 2024
An announcement on behalf of Fishery Management Limited
Following the tragic passing of Ifor Jones on the 16th of January, 2024, there has been understandable speculation into the future of the business and the waters he managed so well for so many years. On his diagnosis back in November 2023, Ifor asked his 2 daughters, Sophia and Cassandra Rose, along with his friends, Arthur Olding and Mark Hunt to form an interim management team to help with the future transition of the business.
On the 7th December, 2023, the above were appointed directors of Fishery Management Ltd and set about consolidating the accounts to gain a view on the state of health of the business. This process took until late January, 2024.
The conclusion of the account consolidation made hard and unwelcome reading.
Unfortunately, the business was found to be very heavily in debt, with little working capital and a low asset base. The team explored every possibility to work through the identified issues and transition the business as a going concern. Sadly, to no avail.
“On consultation with the firm’s accountants, Haines Watts, discussions were entered into with Leonard Curtis, one of the largest independent firms in the UK, specialising in corporate recovery, insolvency and business restructuring. With great regret and sadness, a decision was subsequently made this week to wind down the business with immediate effect and put it into voluntary liquidation. This was the only option available.
The process will be handled by Richard Pinder of Leonard Curtis. Enquiries should be directed to [email protected] Leonard Curtis will, in due course, be writing to all known members, creditors and other stakeholders of the company to explain the steps that are being taken to wind the company down voluntarily and place it into Creditors Voluntary Liquidation.”
As acting Directors, we would respectfully highlight that no salary was taken at any point by any director, no money was removed from the business at any time and their own money has been used to both run the business and pay for the insolvency process. This cost alone was and is considerable. The acting directors would also like to thank all of the staff and in particular Tom Bird and Lloyd Thompson, for their professional attitude, efforts and cooperation during this difficult period.
We would also like to thank the long-standing customers of Ifor’s business for their patience and understanding. This isn’t the news any of us would want to hear regarding the business and the prospects for fly fishing Draycote, Eyebrook or Thornton reservoirs. Whilst indeed this brings to an end a chapter in fly fishing that has touched many people’s lives, including our own, we do not believe it will ultimately be the end of fly fishing on these waters.
