In a swiftly issued statement, World Cruising Club have reassured the participants of this year’s world-famous sailing rally ARC 2006 as well as its event sponsors and corporate partners, that World Cruising and its entire family of events are unaffected by the sad demise of The Challenge Business.

Since a management buyout on 3 January 2006, World Cruising Club Ltd has been entirely independent of The Challenge Business International Ltd and there is no longer any financial connection between the two companies.

Andrew Bishop, Director of World Cruising Club, said: “We would like to reassure everyone that World Cruising Club Ltd, and all of our events, including ARC 2006, are unaffected by the decision of The Challenge Business International Ltd to go into receivership. We do send our best wishes to our friends at The Challenge Business and hope that the company is able to trade out of its current difficulties.”