The sale of a £1.25m pier in Ceredigion is being delayed by "timewasters" and potential buyers struggling for funding, its administrators have said.
Begbies Traynor was called in to manage the sale of Aberystwyth's Royal Pier, Wales' first, in March 2015.
But administrator John Kelly said it was taking longer than expected because it was built on stilts in the sea and buyers were struggling to find lenders.
He added there had also been issues with "time wasters".
The Grade II-listed pier houses several small businesses including a nightclub, an arcade, a pub and restaurants.
"We have had a number of interested parties view the pier and some remain interested," Mr Kelly said.
"It is its uniqueness that makes it more of a challenge for funding. It is also built on stilts into the sea so does require more than average maintenance, and access for maintenance can be challenging.
"I remain confident we will find a suitable buyer, which is taking longer than I would normally expect in part due to its uniqueness and in part to 'time wasters'."