Porthcawl seafront maritime centre charity to be wound up

Developers said £450,000 spent on redesigns "proved fruitless" when the council asked for more changes

A charity which planned to build a £5.5m maritime centre at a south Wales resort is to be wound up.

Credu Charity Ltd hoped to create 120 jobs by redeveloping the Cosy Corner site on Porthcawl's Esplanade.

Bridgend council, which granted approval in 2018, reclaimed the site this month after the charity failed to confirm it had the funds to proceed.

Menzies LLP, named as liquidators, said they would wind up the charity's affairs to limit losses for creditors.

Credu Charity Ltd emerged out of the Porthcawl Harbourside community interest company in February 2018 and has delivered services under different subsidiaries including education programmes for schools and tourist information.

The maritime centre was due to include a coastal science and discovery centre, a cafe, wine bar, roof terrace and microbrewery.

Cosy Corner was once the site of a cinema, skating rink and paddling pool

Funding for the centre included £2.1m from the European Regional Development Fund, £1.15m from the Big Lottery Fund and £600,000 from Visit Wales.

However, Visit Wales withdrew from the project in August claiming it was no longer financially viable due to a "significant increase in project costs".

Construction had already begun but came to a halt earlier this year when contractors removed equipment from the site claiming they had not been paid since January.

Menzies LLP director Rachel Lai said the firm "will proceed to wind up the affairs of the charity with a view to mitigating losses for creditors".

She added: "The business was marketed for sale but unfortunately no bidders came forward."

Two Bridgend councillors involved in the charity - its chairman Mike Clarke and secretary Norah Clarke - have been approached for comment by the Local Democracy Reporting Service but did not respond.