A PAY-TO-RACE yachting company in Weymouth is at risk of collapse just months after its launch, according to its partners.

Partners of the Round Britain and Ireland Challenge (RBIC) have spoken of their disappointment that the much-celebrated venture is facing financial difficulties.

RBIC launched in February this year with a boat blessing by the Bishop of Sherborne at Portland Marina and formed a ‘long-term partnership’ with the Weymouth and Portland National Sailing Academy.

It held its first 28-day race in March, with two more challenges scheduled for later this year.

But now the six bespoke Dehler Varianta 44 yachts have moved out of Weymouth Marina, would-be competitors have been left in the dark and the company’s director Charlie Walker cannot be contacted.

A spokesman for the Sailing academy said: “The WPNSA regrets to understand that the RBIC is currently facing financial problems.

“The venue’s involvement with the RBIC has been to provide facilities for launching their fleet, with the boats subsequently berthed at Weymouth Marina, as well as assisting with the training of crews and the starting of the races.

“There has been no involvement from the WPNSA with the management or finances of the RBIC company.”

Weymouth College student Joe Hennessey was among the first challengers after winning the college’s marine achievement award and had expected to take part in an additional cross-Channel race later this summer.

The 16-year-old said: “I haven’t heard anything about it.”

Weymouth Marina manager Alistair Clarke said: “We became aware of what was happening last week and decided to make sure we got our berthing fees paid, which we did – there’s no money owing to the marinas of Weymouth or Portland. The boats went on Friday afternoon.”

Mr Clarke added: “It’s a real shame for the area that it hasn’t worked out.”

Portland Marina manager Russ Levett said: “It’s a real shame actually, I know everyone had high hopes for a good event to come out of Weymouth.”

The WPNSA has said all queries should be directed to Griffin and King, Licensed Insolvency Practitioners, however company spokesman Richard Owen said: “Griffin and King has not been appointed administrators of that company yet.”

• Have you lost out as a result of RBIC’s financial difficulties? If so please call the Dorset Echo on 01305 830984.