A Hampshire charity has announced that part of its operation has gone into administration after being hit by the pandemic and rising debts.

The Jubilee Sailing Trust owns the only tall ship in the world designed for a mixed-ability crew, including disabled people and those with learning difficulties.

The charity says its three-masted vessel, SV Tenacious, remains operational and will continue to provide voyages for sailors aged 16 and older.

But the Trust has issued a statement confirming that one of its two subsidiaries, Jubilee Sailing Trust Ltd, has gone into administration after a creditor threatened to take legal action.

Hampshire Chronicle: The Jubilee Sailing Trust's chief executive, Patrick Fleming.The Jubilee Sailing Trust's chief executive, Patrick Fleming.

The statement says the Trust's financial position has been "extremely precarious" for some time, despite the success of its Covid recovery campaign.

"This has raised an astounding £890,897 since April, which has allowed us to continue operating Tenacious and delivering our mission.

"Unfortunately, despite the fantastic support received over the past few months, we have been forced to make the difficult decision to enter ‘Jubilee Sailing Trust Ltd’ into administration.

"The assets owned by this company will be sold to generate funds for creditor repayment."

Referring to the Trust's other subsidiary the statement says: "Essential shore-based employees are being transferred to Jubilee Sailing Trust (Tenacious) Ltd under the Transfer of Undertakings (Protection of Employment) regulations. The permanent crew are employed via an agency, whose contract will be continued.

"These transfers will ensure that Tenacious and those booked to sail with her will not be affected."

Hampshire Chronicle: The Jubilee Sailing Trust owns Tenacious, which will continue to go on voyages. Picture: Bill Lane.The Jubilee Sailing Trust owns Tenacious, which will continue to go on voyages. Picture: Bill Lane.

The statement adds: "We are undergoing enormous change in a short period with a small team but believe the outcome will result in our wonderful charity being able to continue bringing our mission to over 1,200 people each year, for many years to come."

Several people have taken to social media in the wake of the Trust's announcement.

One person posted: "You’ve worked tremendously hard and sometimes there’s nothing more you can do. The restructuring sounds healthy - hopefully many more sea miles ahead."

Earlier this year the Trust said it had failed to secure financial help from the government and would not survive unless it raised £1.2m by end of September.

Speaking at the time its chief executive, Patrick Fleming, described the situation as "desperately difficult".