The Hythe and Southampton Ferry Company has announced it is being placed into voluntary liquidation.
The company made the decision after an 18-month search for a solution to revive the service.
It is owned by cross-Solent ferry operator Red Funnel, which runs services to the Isle of Wight.
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Red Funnel and its owner, Njord Partners, previously planned to sell the company.
Efforts included seeking funding, grant support, and inviting potential investors.
However, no viable proposals or interested parties came forward.
Legal advice was sought before making the decision to place the company into voluntary liquidation.
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