JOBS could be at risk at Newgale YMCA, near Penycwm, after it was announced that the national charitable organisation has gone into administration.
Administrators from Grant Thornton’s Advisory team have been appointed to settle the affairs of the National Council of Young Men’s Christian Associations of Wales (YMCA Wales) charitable organisation it was announced today (Wednesday).
Alistair Wardell, Head of Grant Thornton's Wales office in Cardiff, will lead the Administration, supported by James Stares, Director in Restructuring for the business advisory specialists.
The 18 employees of the charity, which is based across three sites in Swansea, Newgale and Rhayader, are at risk of redundancy while the administrators seek sales for its assets.
YMCA Wales was founded in 1981 and has been providing services to young people and their communities throughout Wales. The 24 regional YMCA associations it has also supported are not affected by the administration and are continuing to operate as normal.
While the head office for YMCA Wales is in the Llansamlet area of Swansea, the majority of the staff are based in west Wales where the charity ran an outdoor education centre at Newgale.
Lead Administrator Alistair Wardell said: “This is clearly a disappointing blow, not just for those employees who are at risk of redundancy but also for all those people it has provided support for in Wales during the last three decades.
“We are already receiving interest in some areas of the YMCA Wales operation, in particular the activity centre in Newgale, and we will be pursuing those over the next few days and weeks.”
Any parties interested in acquiring the business should contact the administration team at the Grant Thornton offices in Cardiff, on 029 2023 5591.