Andrew Short Marine in liquidation

3:21 AM Tue 4 Oct 2011 GMT

'Matthew Short.' Bob Wonders Click Here to view large photo

Sydney dealer, Andrew Short Marine has gone into liquidation, only days before the second anniversary of Andrew Short's death in a yachting accident.

A devastated Matthew Short, who took charge of the family firm following the death of his brother Andrew in 2009, confirmed the company was no longer trading after shutting its doors for the final time last Thursday.

He said the family last week decided to pull the pin on the entire business on the advice of the National Australia Bank and had appointed receivers BRI Ferrier to liquidate the company.

The decision came just 12 days before the family were to mark the second anniversary of the death of founder Andrew, a renowned yachtsman, who was washed overboard when his yacht smashed into a reef on October 10, 2009, during the overnight Sydney to Flinders Islet race.

Quoted in News Ltd press, Matthew Short said: 'We were trying to hang on but the stigma was just too great.'

Two weeks ago, New Ltd press reported that Andrew Short Marine was selling more than $17 million worth of property in a bid to keep its operations afloat.

According to the report, 'almost 20 of the company's boats worth a total of $5 million were repossessed by GE Capital pending the sale of its prime industrial site at Taren Point'.

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Andrew Short Marine in liquidation

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