I have spent many hours researching on this subject and I manage to discover a huge amount of information about the ship.
The ship was sold to Solitaire Liverpool (clothing company still in business today), the ship was on the way to the chop shop and was saved just in time by Solitaire.
10th August 1979 the Duke of Lancaster arrived at her final resting place, a mere 75 miles from Holyhead, she was then sailed into Llanerch-y-Mor, near Mostyn and basically driven into the beach, where the hull was then encased in concrete (2/3 of the hull is encased) and she became know as the Mostyn Fun Ship, her life as a fun ship didnt start until 1981 after much renovation/preparation work was completed.
Conversion for use as a 300-room hotel did not appear to go beyond the preliminary planning stage and her use as "The Fun Ship" was relatively short-lived and was subsequently closed to the public.
Over time, the vessel has become increasingly derelict, or so the story goes, however, I know for a fact that Solitaire was using it a warehouse for the clothing manufacturing, this fact is even advertised on their website complete with a glorious looking picture, which is clearly very outdated, but I suspect it was possibly one the first pictures taken of her after berthing at Llanerch-y-Mor.
In my research I managed to speak on the phone to the PA of the owner of the company/ship, the PA is a guy and the owner is a female, I forget her name though

They said that they have always had huge ideas for the ship, but always been fought back by the local council who have refused many planning applications including one application which also included the construction of a new access road to allow the required emergency services to gain access in the even of an emergency.
Solitaire have no intentions of scrapping the ship, but the future does look very bleak for this stunning ship.
Here is the information that can be found on Companies House about the company and known aliases and previous names:
The WebCHeck service is available from Monday to Saturday 7.00am to 12 Midnight UK Time:
Name & Registered Office:
EMPIREWISE LIMITED
2ND FLOOR SAXON HOUSE
HERITAGE GATE FRIARY STREET
DERBY
DE1 1NL
Company No. 01372601
Status: Active
Date of Incorporation: 09/06/1978
Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):7499 - Non-trading company
Accounting Reference Date: 31/03
Last Accounts Made Up To: 31/03/2007 (DORMANT)
Next Accounts Due: 31/01/2009
Last Return Made Up To: 30/12/2007
Next Return Due: 27/01/2009
Last Members List: 30/12/2007
The WebCHeck service is available from Monday to Saturday 7.00am to 12 Midnight UK Time:
Name & Registered Office:
SOLITAIRE (LIVERPOOL) LIMITED
2ND FLOOR SAXON HOUSE
HERITAGE GATE FRIARY STREET
DERBY
DE1 1NL
Company No. 01859341
Status: Active
Date of Incorporation: 29/10/1984
Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):[/b]5241 - Retail sale of textiles 5242 - Retail sale of clothing
Accounting Reference Date: 31/03
Last Accounts Made Up To: 31/03/2007 (TOTAL EXEMPTION SMALL)
Next Accounts Due: 31/01/2009
Last Return Made Up To: 12/06/2008
Next Return Due: 10/07/2009
Last Members List: 12/06/2008
Previous Name: BLUEKEEL LIMITED
Also I know that people say that the ship is not encased in concrete, but trust me she is, also they sunk a couple of concrete barges on the water side of the ship to prop her up.
Without concrete the ship would of moved on her own accord by now, as just think what 30yrs of erosion can do to an unmaintained structure which is sitting in salt water

The hull is completely nackered and so hopes of ever seeing her sail again is extremely unlikely although not impossible, as anything is possible if you have enough money

I have found a series of pictures which show the state of the ship today, and also shows the concrete surrounding the front of the ship, anyone who has been close to the shop will know that she is solid as a rock:







No those people who say the ship is not encased in concrete, please look closely at this pic and then tell me there is no concrete there? The concrete fits perfectly to the shape of the hull and comes around both sides, the only way they could achieve such a perfect fit would be to pour the concrete once the ship is in its final resting place.
I will keep following this thread, as I like to think that I know an awful lot about the ship, as I have been fascinated by it since I was a tiny tot

Rgds,
The Duke