They have repeatedly collapsed businesses leaving massive debts, including almost £400,000 in unpaid taxes
The Ship Inn in Fowey
Questions are being asked about a well-known and popular pub being run by a failed business couple who keep collapsing companies, leaving a trail of tax debts of hundreds of thousands of pounds.
The Ship Inn in Fowey is owned by St Austell Brewery but operated by James Paul Gitsham and his wife Yolanda under the Fowey Enterprises Ltd management company.
The business was established in October last year with Mr Gitsham as its sole director.
However locals are raising concerns after this company was set up six months before the couple’s previous management company, Shipfowey Limited, went into voluntary liquidation in March.
When Shipfowey Limited went bust this spring it left more than half a million pounds – £513,802.02 – in unpaid debts, including £98,663.59 for trade and expense creditors and £224,294.06 in corporation tax owned to His Majesty’s Revenue and Customs (HMRC).
It is not the first time that the Gitshams have had failed management companies while operating the Ship Inn.
In June 2023, their company Kingship Fowey Limited, trading as The King Of Prussia/The Ship Inn with Mrs Gitsham as its director, also went into voluntary liquidation. It left £210,783.89 in debts including £60,210.33 to trade and expense creditors – and £150,573.56 in unpaid taxes to HMRC.
That’s more than £375,000 in unpaid taxes to HMRC across two businesses which did the same job – running the Ship Inn in Fowey – and run by the same directors – either Mr or Mrs Gitsham – in three years.
According to the Government, the corporation tax rate for company profits is set at 25 per cent. It means that to have £224,294.06 in unpaid corporation tax, the Gitshams’ business (Shipfowey Limited) will have made almost £900,000 in profits.
If you add the £150,573.56 from their previous business that’s profits of almost £1.5 million between them, which would require the corporation tax payments totalling £375,000.
Before running the Ship Inn, Mr Gitsham also had an unrelated business called Fowey Doors Limited between 2019 and 2021 which was compulsorily struck off the registers of companies at Companies House.
Compulsory strike off typically happens because a company has failed to comply with statutory duties, such as not filing annual accounts or confirmation statements. Once dissolved, the company ceases to legally exist.
While collapsing multiple companies into voluntary liquidation with debts and owed taxes is perfectly legal, locals aware of the Gitshams’ previous businesses going bust are demanding answers, about how one company with £900,000 profits in three years goes into liquidation as well as whether it’s an appropriate arrangement for St Austell Brewery.
One resident in the town contacted both St Austell Brewery and CornwallLive about what he sees as a pattern of liquidations by the Gitshams as a way not to pay their taxes but living it up instead with big cars and a big house.
He wrote: “I have to ask the question firstly, how on earth does a company purposely go bust if they have made enough profit in three years to owe £224,000 in corporation tax. Furthermore, having not even paid that money, I really want to understand this, why has St Austell Brewery allowed them to carry on trading under St Austell Brewery premises?
“Do you realise you’re setting a precedent as a large company in Cornwall and the UK? You’re facilitating companies to go bust and ruin other small businesses but, more specifically, you’re facilitating people like James Gitsham to owe HMRC almost £400,000 and to just write that off too. That is taxpayers’ money footing that deficit and you think it is acceptable?”
With regards to Shipfowey Limited going bust in the spring when the Gitshams had already set up a new company to run the Ship Inn, we contacted Leonard Curtis, the firm appointed as liquidators in March.
A spokesperson for the company said: “Siann Huntley and Nicola Layland of Leonard Curtis were appointed joint liquidators of Shipfowey Limited, the company which operated The Ship Inn, Fowey, on March 17, 2026.
“We have had no involvement with any previous business failures which may have occurred on this site, nor any involving any officer of this company. We have acted solely in relation to Shipfowey Limited.
“At the time of appointment, Shipfowey Limited was insolvent on a balance sheet basis, with liabilities exceeding its assets. Following an assessment of the company’s financial position, a Creditors’ Voluntary Liquidation was considered the most appropriate process.
“As in all cases in which we act, full and proper advice was provided to the company and directors’ duties, responsibilities and risks were duly noted.”
The spokesperson added: “Leonard Curtis has had no involvement in relation to Fowey Enterprises Limited.
“It is our understanding that The Ship Inn is owned by St Austell Brewery and that arrangements regarding the ongoing occupation of the pub have been agreed directly between Fowey Enterprises Limited and St Austell Brewery.
“The role of the joint liquidators is to administer the affairs of Shipfowey Limited in accordance with our statutory obligations and to ensure that all relevant matters are reported to the appropriate authorities. Additionally, it is the liquidators’ duty to realise assets of the company and pursue claims against third parties for the benefit of the liquidation estate.
“It is for the relevant authorities to determine whether any further enquiries or action are appropriate. The liquidators will continue to assist with any requests for information as required.”
We have contacted both the Gitshams at the Ship Inn in Fowey and St Austell Brewery for a comment.
A spokesperson for St Austell Brewery said: “The Ship Inn is operated by an independent business, and St Austell Brewery is not involved in its day-to-day management.
“We are aware of the liquidation of Shipfowey Limited, which is a matter for the appointed liquidators and relevant authorities.
“We take our responsibilities as a pub owner seriously and keep all businesses operating within our pub estate under regular review. We expect every operator we work with to meet their legal and contractual obligations.
“Whilst we are unable to comment on the detail of an individual business, we will continue to review the position as appropriate.”
Get all the latest stories, sent straight to your WhatsApp – all you need to do is click the link: https://chat.whatsapp.com/CKObHkgJF4T5fRZxiGdYqd
We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. If you’re curious, you can read our Privacy Notice: https://bit.ly/41EZjzx
