A FERRY firm has cancelled all sailings to and from the Isle of Wight after calling in administrators.

Scoot Ferries announced over the weekend that all sailings today have been cancelled, and in a statement this evening confirmed that all funding had suddenly stopped.

Initially, no cause was given, other than saying it was for a "very unfestive reason".

In a statement posted on their Facebook page, the firm said: "Following the unexpected suspension of all sailings on all routes this morning, Scoot Ferries wishes to confirm that they have today appointed David Meany of Ashtons Recovery LLP as official receiver and will be applying for a Company Voluntary Arrangement with immediate effect.

"Scoot had been in advanced investment discussions with a number of parties regarding a possible buyout of the company. This follows the sudden and unexpected withdrawal of support from their existing investors on November 24th and it had been hoped that new investment would be secured to enable the continued operation.

"It was confirmed this morning that these discussions had not been fruitful and with no immediate known alternative this side of Christmas, Scoot had no option but to suspend operations with immediate effect."

Scoot operated foot passenger services between Lymington and Yarmouth, as well as Portsmouth and Cowes.

Would-be passengers took to social media to complain that they had either been left stranded or had plans ruined by the sudden cancellations.

However, there was also plenty of support for the company and its employees.

One said: "Such a shame to hear your sad news Scoot, so close to Christmas. Thoughts go out to all your staff and employees for there job loses before Christmas."