One of the county's leading chambers of commerce has gone bust.

Bosses confirmed today that a winding-up petition was being presented to the court for compulsory liquidation of the Thames Gateway (Kent) Chamber of Commerce, based at Medway City Estate.

The chamber has ceased trading with immediate effect.

It was one of three chambers in the county accredited to the British Chambers of Commerce.

The shock closure comes just three months after the departure of Tracey Manley who has filed a claim with the Employment Tribunal.

Bad weather and lower-than-expected revenue from export services were also blamed. In a statement, the chamber board said that membership numbers were lower than first thought. "This had a serious impact on membership income and so cash flow forecasts."

It went on: "As a board, none of us are prepared to work on the basis that we continue to increase debt and carry on on the basis that everything might be alright one day. The board consists of successful local business and professional people who have not and would not operate in that manner.

"We have been saddened by a number of matters that have come to light which, had they been known to us when we were nominated and elected as directors, would have dissuaded us from accepting."