Yacht Club faces financial challenges

Ilfracombe Yacht Club has confirmed it is experiencing financial difficulties, citing tough trading conditions impacting the hospitality sector both locally and beyond.

Treasurer Chris Jones told the North Devon Gazette: “Like a number of hospitality venues in Devon and beyond, we are facing challenging trading conditions. An examination of our accounts and trading trends going forward made it clear that action had to be taken to stabilise our financial position.”

As part of its cost-cutting measures, the club has had to let go of its two staff members. It will now rely on volunteers to operate on a more limited basis. 

Despite the challenges, Mr Jones reassured members that the club remains viable and intends to continue trading under a revised business model.

A meeting will be held with members on Saturday, 11 January, to provide reassurance and discuss the club’s future plans.

The club, which has long been a cornerstone of Ilfracombe’s coastal community, is adapting to ensure it can navigate the current economic storm.