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KENT Maritime Chamber of Commerce, incorporating chambers in Swale, Canterbury and Thanet, has gone into voluntary liquidation.
The news was made public at a meeting of Swale Borough Council.
A subsequent statement issued on behalf of the chamber said that it had ceased operations on August 9.
It said: "The Board received tremendous support and encouragement from members, but the costs of re-organisation and a reduction in additional revenue caused by the worsening economic climate eventually proved unsustainable.
"Every effort had been made to reduce costs, but figures before the Board at
its meeting on August 8 showed that the Chamber company was no longer a
viable entity."
Seven staff, including the chief executive, Anne Peeks, have been made redundant and the Swale, Canterbury and Thanet offices closed.
Only recently Kent Maritime appointed a new chairman, Bill Moses. Last month, it celebrated its second anniversary with a dinner for more than 100 guests at Broome Park Golf and Country Club, near Canterbury.
Earlier in the year the chamber was in the news when Dover District Chamber of Commerce broke away from its ranks. At the time Dover's chief executive Ray Haines said his chamber faced losses of around £8,000 from its failed merger with the Kent organisation.
Of the new situation Mr Haines said: "I can say we are extremely sorry to see the demise of any chamber, as it damages the chamber movement. We are aware of moves to establish a chamber in the three districts let down by Kent Maritime and we are supportive of those efforts.
"We do feel vindicated in our de-merging from the Kent Maritime Chamber and pleased that businesses in Dover have not been left in difficulties like those in Canterbury, Thanet and Swale have been.
"We can be contacted on 01304 824955. Dover Chamber of Commerce is very much a flourishing concern and going from strength to strength, as our members will testify."
In Swale it was said this week that the biggest impact on the borough would be the loss of the chamber's Swale Enterprise Agency, which has offered vital help and support to get small businesses off the ground. It operates from separate premises on the Eurolink estate.
Cllr Mike Brown (Lib Dem) said: "The agency has been very successful. We have got to support it somehow, to make sure it doesn't die."
Sittingbourne and Sheppey MP Derek Wyatt said he was not surprised at the liquidation. He said: "It could never have worked. It was a mistake for Sittingbourne and Sheppey to join Maritime. They should have gone to the Thames Gateway. I hope they bear this in mind for the future."