RECEIVERS are seeking to find a buyer for a loss-making steamboat restaurant whose sinking trade spelled its doom.

Businessman Joe Terry had high hopes for his converted fishing trawler, which opened as a floating eaterie in 1998.

However the number of customers fell away and failed to recover after an initial surge of interest, and Mr Terry closed the restaurant last autumn.

PricewaterhouseCoopers have been appointed as administrative receivers for the Congleton Steamboat Company, and are hoping to find a buyer for the novel diner.

"It was closed because Mr Terry felt he was not making a profit, and could not afford to continue," said James Martin, joint receiver with David Wilton.

"The directors had tried to sell the business through a number of agencies, but had not been successful.

"It traded as what appeared to be a quite vibrant venture, and had a good initial spell.

"However it did not manage to retain a loyal following, and turnover and the level of business fell away.

"We have been appointed by Wolverhampton and Dudley Breweries, who acquired their interest in the business when they acquired Marston's.

"The breweries are aiming to achieve a sale of the business, and we are looking at reopening the bar to see if it is possible to attract more interest in the business while it is trading."

Mr Martin said Mr Terry and his wife Daisy had invested a substantial amount of their own money in the venture, as well as borrowing funds.

The restaurant was built as an ocean-going fishing vessel, and failed to sell at auction last July in a sale at Manchester Airport after being given a guide price of £190,000.

The restaurant employed eight people, and is moored alongside the river near the Dane Bridge.

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