HMRC has lodged a petition to wind up the company that operates Aberystwyth marina.
The director of Aberystwyth Marina Limited and the group that owns it told the Cambrian News on Wednesday there was a high chance it would be placed in administration.
But the petition to wind up, which will be heard on 28 June in the High Court in London, can lead to compulsory liquidation or the forced sale of company assets.
Liquidation would stop the company doing business and employing people. It would also see it struck off from the register at Companies House, which means it ceases to exist.
Sources close to the Y Lanfa site also speculate the subsidiary could be in administration as early as next week.
It is also rumoured the Marine and Property Group Limited holding company, which owns four Welsh marinas and has been in administration since April, could be sold.
Port Dinorwic and Burry Port marinas are already in administration which followed shortly after the former also received a petition to wind up from HMRC.
The group’s sole director, Switzerland-based Chris Odling-Smee, told the Cambrian News the recent insolvency action is ‘voluntary’ and to protect its marinas, creditors and staff members.
Pressure continues to mount on the scandal-hit Marine Group which has not been paying staff salaries or pensions, faced a mutiny from berth holders and a string of legal disputes with contractors.
It has now also emerged from a Freedom of Information (FoI) request submitted by the Cambrian News that Aberystwyth Marina Limited owes nearly £45,000 in outstanding rent and business rates to Ceredigion County Council.
Mr Odling-Smee told the Cambrian News on Wednesday: “They’re in administration to make sure everybody is protected, including employees – and quite a lot of salary payments have been going out.
“It’s not because something has changed on the balance sheet, it is so we can do everything in an orderly manner, to protect everybody – and then complete the refinance deal.”
The failure to complete the long-awaited capital deal has been held up by Mr Odling-Smee as the reason staff have been going without pay and pensions - and why subsidiaries have been suffering financially.
Port Dinorwic received a petition to wind up from HMRC on June 25 and saw the appointment of administrators on 8 June. Burry Port went into administration on 12 June.
In late April, the holding company - which owns the subsidiaries - informed berth holders it had gone into administration.
An associated firm, Bayscape Limited, which owes £109,000 in debts to Aberystwyth, was placed in receivership on 26 May.
One of the firm’s subsidiary companies, Cardiff Marine Services, also narrowly escaped being wound up by HMRC over unpaid taxes.
Aberystwyth marina bosses recently suspended boatyard works and a highly anticipated dredging campaign.
Aberystwyth Town Council is set to discuss the situation at the marina in a meeting before the end of the month - while it added: “We do hope that the situation can be resolved as soon as possible due to the marina’s economic importance to the town.”
Liberal Democrat town councillor Mair Benjamin said: “This has all been a nightmare for all concerned and there is so much that is needed to be repaired.”