‘We are sorry that Brian has decided to step down as BMF president but of course we understand and support his decision,’ said Rob Stevens, BMF chief executive. ‘Brian has been a great servant to the marine industry, particularly during his time as chairman of National Boat Shows helping to plan and run the London and Southampton Boat Shows. We wish Brian well for the future.’

While the BMF may well be sorry – along with many others in the industry - that Peters has relinquished the BMF presidency, this was an inevitable move under the BMF’s own rules.

Rule 2.9 stipulates A member shall cease to be a member …if it makes any arrangements with its creditors or an administrator or administrative receiver is appointed in respect of the whole or any part of its undertaking.

BB wouldn't be surprised to see Peter Methven, the highly effective immediate past president of the BMF, to be asked to stand in until one of the two vice presidents – Tim Coventry (ex-Performance Sailcraft) or Alan Morgan (Avon Inflatables) – can find the time to take on the role ahead of the planned takeover date.

Quite what happened to B A Peters plc may get lost in the mists of time, irrespective of what the rumour mill says, but – whatever you thought of him - the loss of Peters leaves a huge gap in this industry.

Brian Peters OBE has been a hugely influential member of this industry and has done a tremendous amount of good for it in many different ways. BB wishes him well in whatever he does next.