The owner of the Baypoint Club in Sandwich has remained tight-lipped over fears the company could be going into administration.

The leisure centre in Ramsgate Road, based at the former Pfizer Social Club, could be at risk as its net worth has plummeted into minus figures for the last three years.

Tony Harrison, owner of Baypoint, confirmed the company was undergoing a “re-structuring” but would remain open as normal.

He said: “I have no comment to make. Baypoint is and will remain open. It is a private limited company and with all companies information is available.

“Meanwhile we will continue to provide a valuable service to the local community.”

Information from the Companies House website shows that in 2014 the company had a net worth of minus £936,850 and a total cash sum of £1,160 in the bank. It also reveals that the leisure centre and wedding venue was £1,768,823 in debt last year.

Companies House was not able to confirm if Baypoint had gone into administration as accounts are only updated yearly.

However, it is believed that an administration advice company has been brought in to help.

From 2012 to 2013, the amount of debt rose from £975,729 to £1,739,393.

The sports, fitness and leisure centre includes a wedding venue and restaurant, and holds a corporate, social and charity events.

It was turned into a leisure centre after Pfizer pulled out of the town in 2011 and officially opened its doors in September 2012.

At the time Mr Harrison, a Thanet businessman, told the Mercury he invested a substantial sum and pledged a further £6 million in the hope of creating more than 100 jobs.