Insolvency

Famous Training College forced into Liquidation

December 16, 2024

811

An internationally recognised boatbuilding training college is set to close its doors in Suffolk for the final time as it heads into liquidation.

The award-winning International Boatbuilding Training College (IBTC) has been based on the edge of The Broads since 1975.

Ideally situated on Sea Lake Road, Oulton Broad in Lowestoft, IBTC has ensured that traditional boatbuilding skills have been preserved for almost 50 years.

But it has been announced the college is to close on Friday, December 20 with the company being placed into liquidation.

Set against the backdrop of the area’s rich maritime history, the college is a registered training centre delivering City & Guilds qualifications and a range of customised courses specific to maritime heritage and traditional boatbuilding for anyone interested in an industry career, those looking to supplement their hobby or develop new skills.

With training provided in the skills and knowledge required to repair, conserve and build wooden boats, the college is operated like a commercial boatyard to help students get used to being in a working yard.

It has seen a huge variety of projects undertaken at IBTC over the years – including works on numerous significant historic vessels, such as building a new workboat for historic Lowestoft sailing smack Excelsior, working on steam drifter Lydia Eva, on MTB 102 and restoring an historic 1920s Broads sailing cruiser called Welcome that was used by author Arthur Ransome.

With IBTC graduates going on to work in boatyards across this country, and abroad, in September last year IBTC won the Maritime Training and Education Programme Award at the National Maritime SME Awards.

But regional insolvency and business recovery specialists McTear Williams & Wood said IBTC Limited – the company trading as International Boatbuilding Training College – will close its doors with effect from Friday, December 20.

A spokesman for McTear Williams & Wood said: “A meeting of members has been called for that day to place the company into liquidation at which time the current student cohort will leave having been given the opportunity to complete a minimum of the joinery module City & Guilds qualification.

“All 11 staff will be made redundant by the company that day, and Hayley Watson and Andrew McTear of McTear Williams & Wood will be appointed as joint liquidators.

With directors Lyn and Mike Tupper having run the company for the last nine years, McTear Williams & Wood said they “acquired it for £1” from the previous owners and “have invested heavily in the business to support it in a difficult market due to less wooden boat building”.

The spokesman added: “Over the years the Tuppers’ have tried every avenue to seek support from the businesses that still use the college’s unique skills and had a rescue deal lined up until recently, but regrettably with no prospect of increasing student numbers to turn the college back to profitability have had to make the difficult decision to close.

“They are the largest creditor.”

If you are interested in the company’s business and assets contact Kelly Goodman at McTear Williams & Wood Ltd by email Kellygoodman@mw-w.com