THE final yacht belonging to the Southampton-based Challenge Business International has been sold and brings a conclusion to the remarkable round-the-world Challenge story.
Administrators at accountancy firm Grant Thornton acknowledge that the business set up by Sir Chay Blyth provided so many people with an unforgettable experience.
Many of today's international yachtsmen cut their teeth on round the world sailing experience through the Challenge races - sailing exponents like Mike Golding, Dee Caffari, and Ricky Chalmers who is at present skippering the South African entry in the Clipper Round the World Race.
"The sale of the fleet involved an18-month long international marketing effort with the assistance of yacht brokers, Berthon International," said Trevor O'Sullivan of Grant Thornton. "We are really pleased with how successful this has been and are delighted that the Challenge fleet is still sailing, through various new owners, continuing to offer the experience of offshore sailing. It is a testament to the quality of the yachts that they attracted so much worldwide interest during a difficult period for the sector."
Mr O'Sullivan said that the administration of Challenge Business involved not only resolving complexities of international maritime law (including the arrest of yachts) but also issues such as customer deposits, maintenance and the re-commissioning of yachts.
"Customer deposits are very topical in the marine sector at present. The collapse of a number of high profile companies has resulted in customers facing substantial losses of deposit monies. I can report that this is not the case with Challenge - where we were able to refund outstanding deposits paid by the public for cancelled voyages," he said.
The Challenge Race
Photo: onEdition