Bristol Ferry Boat Company goes into liquidation, and subsequent revival

[whole diary]

[Chris from Nailsea]

From the Bristol Post:

The Bristol Ferry Boat Company has gone out of business after liquidators were called in by the owners.

The owners of the firm, who include the city's newly-elected mayor George Ferguson, have been struggling to keep it afloat for several years.

But a mixture of the economic downturn and this summer's terrible weather combined to bring down the company, known for its distinctive yellow and blue boats. The decision was taken on Thursday to call in the liquidators and the firm has now ceased trading.



At its height in the busy summer months the firm, based near Welsh Back, employed around 30 full-time and part-time staff.

Ferry services have already been halted and there is a question mark over what will happen to the private excursions already booked by customers.

Two other boat companies are still operating in the city docks ^ Number Seven Boat Trips and Bristol Packet Boat Trips ^ and are unaffected by the announcement.

The Bristol Ferry Boat Company was originally set up by Ian Bungard in the late 1970s but Jane Salvidge became the owner several years ago, with the support of her then husband Rob Salvidge.

The couple have since separated but businessman turned politician Mr Ferguson has also had a share in the business.

One person involved in the firm, who asked not to be named, said: "This is a real tragedy for Bristol. We have worked really hard for the last two or three years to keep the company going but in the end it was just not a viable business.

"Obviously it is a terrible shame that people have lost their jobs but at the same time, the city has lost a part of its heritage. The ferry was one of the things that made the city such a special place.

"No one is to blame for what has happened and people fought long and hard to keep the business going for as long as possible but it was just not possible.

"The business was struggling anyway as a result of the recession and then we had to cope with one of the wettest summers on record, which really did nothing to help the situation."

Mr Ferguson said: "I have been a shareholder in the company for several years but have never been involved in the day-to-day running of the company. I have been supporting the business but the last two summers have been particularly difficult. It got to the stage where we decided that the business was no longer viable."

The company, which ran a scheduled ferry service as well as tours and private hire trips, almost went out of business two years ago but was saved when the city council struck a deal with the company.

Mrs Salvidge, the main owner of the business, is believed to be in France at present.

Mr Salvidge has been concentrating on running The Matthew, the replica of John Cabot's historic ship. He said: "I was involved in the Ferry Company for a couple of years and it is a real shame that it could disappear. There was a danger a few years ago that the firm could go out of business and the council got involved. The council wanted to concentrate on the ferry service rather than the excursion side of the business.

"Basically, the cost of running a waterbus meant that the price of tickets were too expensive for commuters. Sadly, the market was never going to be viable and it really took the business in the wrong direction."

[TonyK]

All very sad. As a mode of public transport, it is always going to be subject to the vagaries of the weather, and this year has had more vagaries than most! I only used it once. I had to get to Hotwells from the Centre, and was thinking bus or walk. But it was a fabulous day, and I could see the ferry coming. So I bought an ice cream and took the leisurely option. It was never frequent or fast enough to be a serious option, not like the vaporetti in Venice, but it is still a sad loss.

[Chris from Nailsea]

All is not lost, though!  From the BBC^» (British Broadcasting Corporation - home page):

Bristol ferry to restart after consortium buys boats


The boats were put up for auction after the company went into administration last year

A passenger ferry company in Bristol that went into administration last November is to resume service.

Bristol's Ferry Boat Company will run a weekend service until 10 February, when it will operate full time. The company is being run by its original owner, Ian Bungard, on behalf of a consortium of investors.

Mr Bungard said: "I'm very proud and have the greatest confidence in the people who have raised the money to get it back in business again."

The company's fleet of five blue and yellow passenger boats were put up for auction last December, after the firm went into administration. A consortium purchased all five boats and, under the name Bristol's Ferry Boat Company, are to continue to run the service on the city's Harbourside.

Mr Bungard, who originally launched the company in 1978, said "it feels like the right thing to be doing".

"We've always believed that there is a great value in having a water-based transport in Bristol," he said. "The harbour links a lot of tourist attractions, the railway station and city centre and we've always thought there should be a lot more people travelling by boat."

Two other ferry services currently operate in the city.

[TonyK]

All is not lost, though! 

We just need the weather now.

[Phil]

I do hope I'm not alone in seeing the funny side of a headline about boat company going into liquidation...

[JayMac]

They went under. But have now resurfaced.

[TonyK]

I hope they keep afloat this time.

[LiskeardRich]

What will stop the new company from sinking? Being run by the same bloke but with a consortium backing. 

[Chris from Nailsea]

To be fair, the Bristol Ferry Boat Company was originally set up by Ian Bungard in the late 1970s but Jane Salvidge became the owner several years ago, with the support of her then husband Rob Salvidge. It was under the latter's control that the firm became insolvent, not Ian Bungard's. 

[JayMac]

So it wasn't the Salvidge's who salvaged the company then? 

[Chris from Nailsea]

No, the fortunes of a ferry company do tend to go up and down a bit ... 

[JayMac]

Was out in Bristol with Mumsy and my nephew today.

We took the ferry from Temple Quay to the Arnolfini. The new (old) owner Ian Bungard was at the helm and he was telling us of the future plans for the Bristol Ferry Boat Company. At the moment it is operating as a commercial service thanks to the generosity of investors, including Bristol's Mayor who put in some of his own money. Mr Bungard told me that in the near future he'll be operating the service as a Community Benefit Society (a type of co-operative) where anyone can invest to hopefully, er, keep the service afloat.

I urge visitors to Bristol to use this service whenever possible. Ferries depart from Temple Quay, near Temple Meads Station, hourly at xx55 every day from 0955 to 1655. Taking you as far as The Centre (fountains, Hippodrome) with stops en route. From The Centre there's another ferry that runs the length of the floating harbour calling at (amongst other places) the SS Great Britain, en route to Hotwells. There's no better way to get to the myriad tourist attractions around the harbour than by water. Fares are very reasonable when compared to surface public transport. Gives a very different perspective on the city. 

More details here: http://www.bristolferry.com/index.php

A few pictures from today:

The view forward from 'Emily' looking toward St Phillip's Bridge and Castle Park.


My nephew, acting First Mate alongside Captain Bungard.


'Emily'. One of the oldest boats in the fleet. Built in Bideford in the 1920s and launched in 1927. Always worked as a passenger boat.

[Chris from Nailsea]

From the BBC^» (British Broadcasting Corporation - home page):

Bristol ferry company hoping to raise ^250,000 with share offer


The Bristol Ferry Boat Company went into administration last November

A ferry company in Bristol is hoping to transfer its boat fleet to community ownership by launching a share offer.

Bristol Ferry Boat Company went into administration last year but its five blue and yellow passenger boats were bought by a consortium of investors. Now the consortium is hoping to raise ^250,000 to launch the service as a community-led transport system.

Mark Tucker, a founding member of the company, said without the funds the service would "simply cease".

Shares, starting at ^100, were floated by the newly created Community Benefit Society at an event earlier and will be available until the end of July.

Mr Tucker said it was an opportunity for people to co-own an enterprise which had been "a part of the Bristol dock scene for many decades".

"The new Community Benefit Society will have no bank debt, it is run by experienced ferry operators and we believe that this is the best possible foundation for sustainable success," he added.

According to a spokesman, the co-operative will run five ferries on the city's Harbourside on regular time-tabled services, 364 days a year.

Ruth McLellan, from Bristol Ferry Boats, said: "It means that people have a say. People who have an interest in the company can have a vote in what happens. This is supposed to be part of Bristol and it's supposed to be a service for a community".

Two other ferry services currently operate in the city.

[Red Squirrel]

A ferry company in Bristol is hoping to transfer its boat fleet to community ownership by launching a share offer.

Floating the shares in this way looks like the way for'ard. None of us wants the ferry service to end up on the rocks, or up the creek without a paddle. By and large, every man Jack of us here (and woman Jill, of course) will hope the relaunched venture gets a fair wind.

Isn't it good to use cliches that don't involve rails, tracks, steam or buffers?

[trainer]

Water shame I can think of nothing to add.