The Rivermaid faces an uncertain future operating in the waters around the estuary - a domino effect caused by the collapse of the Egremont project.

Richard Martin, chairman of the Egremont Ferry Company Ltd, says that its purchase and operation of the Rivermaid service is “seriously put at risk” from the collapse of the Egremont project because the money to buy the ferry was part of the Egremont funding plan.

The Rivermaid, currently run by the EFC, operates the ferry service and various cruises on the Kingsbridge and Salcombe ria during the summer months.

In an effort to find a solution to preserve the ferry operation, Richard is asking the local community to “seize an opportunity to share in the solution” by pledging sums of money towards the capital required to buy the boat off the current owner, Peter Moule. Richard wants to extend a special thanks to Peter, who he says “has been really supportive and I want to recognise that he is helping a lot ensuring the Rivermaid stays in service for the benefit of everyone.”

If the community decides not to step forward to help run and fund the purchase of the Rivermaid, then the EFC will close down and the planned purchase of the ferry will collapse. Whatever happens the EFC will continue operating until the end of the first week of October.

Richard estimates that a community contribution of £100,000 is needed to go towards the purchase cost of the Rivermaid.

He said: “It is really important that everyone understands that the money from passenger fares currently isn’t enough to raise the capital to actually buy the boat within a reasonable timeframe.”

He also said he has had legal and financial advice and the best way forward would be to change the EFC into a “community interest company”, meaning that the community would own the boat through the members who put money forward to buy shares. The EFC company name would also be changed to The Rivermaid Ferry Company.

“It’s a really good way of preserving special community services, but we need to have a quick response from everyone who wants the ferry to continue to see if we can put a rescue package together,” he said.

Anyone who is interested in helping to raise the money to buy the boat and preserve the Rivermaid service can write or email Richard for a copy of a pledge document. Pledges will not be called in for payment until after a public meeting has been held to consider the total amount pledged and the community locally to actually help run the community interest company.

To contact Richard for pledge forms or for more information, email [email protected] or send a letter to R Martins, Gardeners Cottage, Churchstow, Kingsbridge; TQ7 3QZ.