The Poole-based marine wholesaler and distributor is to continue in operation whilst a buyer is sought, it was revealed this afternoon.

A statement released this afternoon by KPMG’s Myles Halley, one of the appointed administrative receivers called in to the Poole, Dorset-based marine equipment importer and distributor Sowester Simpson-Lawrence yesterday by the company’s financiers, said: “We are continuing to trade the business whilst every effort is being made to achieve a sale as a going concern. The receivers have made contact with a number of interested parties.”

All 170 staff have been informed of the receivership. No jobs have been lost, although KPMG states that a number of redundancies may need to be made in due course.