YMCA Fairthorne Group has announced it is seeking other providers to take over the running of 11 of its 18 early years settings.

The charity says the major influence behind this decision is the “chronic underfunding” from Government 15 and 40-hour childcare scheme which leaves the charity with a gap of over £500,000 each year,

Dave Bennet, Chair of Trustees said: “This decision is not lightly reached, recognising as we do the challenge this may well present to the communities we serve, but the drain on our reserves is unsustainable in the current environment; we will work hard to try to source alternative providers.”

The charity will be re-focusing resources on developing its community branches and programmes, housing for young people and delivering high-quality care for over 650 children attending its seven years settings.

Those settings are located in Leigh Park, Portsea, Gosport, Southampton, and New Milton.

YMCA Fairthorne Group is a local community charity operating throughout Hampshire and the Isle of Wight.

It offers services for children, young people, families and communities. This includes early years childcare settings, housing for 200 young people in supported accommodation and operates from 30 different sites.

Any enquiries about ownership can be made to Nick Brown at Christie & Co on nick.brown@christie.com