Cowes-based maritime training firm Red Ensign insists it has not fallen into liquidation 'at this time', however it says its directors are 'exploring various options'.

The County Press has been told that one customer, who booked two courses and paid in full, was advised to approach an insolvency firm and stood to lose more than a thousand pounds. 

In 2019, the firm entered into a Corporate Voluntary Arrangement (CVA), which can be used to help manage debt and other financial problems.

In a statement to the County Press - also posted on its website - Red Ensign said: "The company has not gone into liquidation.

"As is the case with many businesses the impact of Covid-19 has been significant. The cruise industry in particular has stalled (the company’s biggest clients) so this has resulted in a significant loss of income...

Isle of Wight County Press:

"The directors are actively exploring various options and will issue another statement in due course about the future of the company.

"The directors are very mindful that individuals have paid for courses and are keeping their interests at the forefront of ongoing discussions.

"Thank you for your understanding at this very difficult and trying time for us all."