Andrew Watling and Carl Jackson of business advisory firm Quantuma have been appointed as Joint Administrators to Romsey World of Water.
The site in the Test Valley has been closed following the administration, with the loss of over 20 jobs across its Aquatic Centre and Coffee Shops.
Founded in 1984, Romsey World of Water offers a vast range of coldwater, tropical and marine livestock, as well as a full range of equipment. The site has also become a local attraction, popular with families.
The business has entered administration due to the overall costs of running the site and the reduction in visitors as a result of economic trends.
Andrew Watling, partner at Quantuma, said: “Unfortunately this iconic garden centre has fallen victim to the general downturn in store-based retail, but these problems were exacerbated by issues with the site since a significant flood in 2014. Part of the site was later used as a base for contractors working on the flood alleviation scheme, which may have impacted on availability of parking and affected visitor numbers”.
“Due to the overall costs of running the site, which the Company had already failed to meet, we unfortunately had no alternative but to make all staff redundant upon our appointment and take steps to close both shops.
“We have already completed a sale of the livestock, stock and fittings to ensure the continuity of care for the fish and other animals, but the site itself remains closed.”
Notes to Editors
Quantuma LLP is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. The business has 18 offices, including 15 in the UK, two international offices in Cyprus (Nicosia and Paphos) and one in Mauritius.