Opal Marine, the yacht brokerage and marine services company, has ceased trading and gone into liquidation. The Chichester Marina based company shut up shop seven days ago.

Former finance manager Jey Kanthan, told Yachting Monthly: ‘There are not enough funds to pay the remaining four employees, the company is insolvent and the directors are drawing up a long list of creditors.’

Mr Kanthan said part of the problem was outside contractors – including engineers – being allowed on site to work on yachts.’They did not have our overheads and therefore were able to undercut us.’

He also said business was impacted when other brokerage companies started to operate from the Premier Marina in West Sussex.

Anyone who wants to list their name as a creditor or receive information on what happens next should contact Jey Kanthan on Tel: 020 7079 2749 or write to him Bramptonia Ltd., 14 Little Portland Street, London W1W 8BN.