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Challenger Syndicateships ceases trading

Long-established shared ownership firm Challenger Syndicateships has entered administration.

The company administered one of the largest such operations on the canals, as well as a hire-fleet ("Challenger Stealth Hire"), and shared ownership ventures for sea-going boats and even sports cars.

It was run by Ed Rimmer, who first made his name at the Black Prince company. It, too, went into administration before being rescued by a new set of owners. Latterly he was also a member of the British Marine Federation board, helping to organise the inland feature at next week's London Boat Show.

Tuesday 8 January  | Richard Fairhurst  | 11.20am, Tuesday 8 January 2008


As a Challenger "owner" I, along with many others, have been left in an uncertain and worrying situation. There has been no communication from Challenger so we are left to pick up the pieces and get our syndicates operational again. In order to help with this and share information between owners I have set up a web forum where owners can ask for info, post info and post suggestions. You can find this forum at:
Simon Hillyer
Arthur Syndicate

Simon Hillyer  | 12.27PM, Tuesday 8 January

I must take issue with the term "long-established"
Companies house records clearly indicate that the company commenced trading on the 5th August 2004, having been DORMANT since incorporation in October 1997. Three years of official trading is hardly long-established.
The company of course does have a history of making exaggerated claims about its number of years in business, number of boats in operation, and its status in the market. The advertising standards agency upheld complaints in these regards, its ruling stated that challengers claims where misleading and inaccurate. Challenger's response was simply to print even more exaggerated claims in its next series of marketing literature.

zupcon  | 8.53PM, Tuesday 8 January

I am a creditor owed by Challenger, I can verify they are in voluntary liquidation. I believe one share in each boat belongs to the company. I am appalled at what is being written in some forums at present. I have worked with Ed and Gill for the whole life of Challenger and have witnessed the high points and some of the lows, plus ideas never put out to the public domain. A dynamic operation in many ways,always on the move, always in the forefront of promoting boating in the UK and certainly not due for some of the disgusting comments being made public on other forums on the net. The craft are good quality, in good order and would be easily run by another operation, it is this aspect that needs support to help encourage someone to rescue the shareholders situation, not to constantly beat the dog when its down.
Shared ownership operations are one of the vibrant ways of enjoying our waterways, it doesnt suit everyone but adds more people to our pastime, life and hobby.
Laurence Hogg

LAURENCE HOGG  | 9.05PM, Wednesday 9 January

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