The Jubilee Sailing Trust has said it will be forced to close after 40 years unless it can raise at least £500,000 by April 14.
The disability charity adds it will need to raise a total of £1.2m by the end of September to ensure its survival.
The Covid pandemic and cost of living crisis has led to “an immediate cash flow crisis”, said the charity.
A failure to secure funding through the government’s Covid Recovery Loan scheme and other sources is another factor.
In launching a fundraising campaign to secure its future the charity said it “has battled hard through the last two years but, as a small charity providing life-changing tall ship experiences for disabled people, the harsh and negative impact of Covid and the cost-of-living crisis has seen an increase in costs and a decrease in income which has now reached a critical point”.
We are sad to announce that the #JubileeSailingTrust will be forced into administration unless a significant sum can be raised.— Jubilee Sailing Trust (@JubileeSailing) April 8, 2022
Please share this post using the hashtag #SaveTheJST and help us keep our beloved charity afloat by donating here: https://t.co/MdWSTVkFTK pic.twitter.com/JnX9ZmDZSr
Chief executive Patrick Fleming said: “We are in a desperately difficult situation and have to face the harsh reality that we may not be able to continue.”
He added: “Our historic journey started with the generous support of the Queen’s Jubilee Fund, and the Royal Household. It is incredibly sad that we face closure, particularly in this, the Queen’s Platinum Jubilee Year.”
The charity’s total annual income has plummeted from £3.49m for the year ending March 2017 to £255,000 at the end of March 2021, according to the charity register.