The spontaneous liquidation of a good and big brand in the sailing and superyacht industry raises many questions. It was only earlier this year that Oyster Yachts launched their award-winning model, the Oyster 745 at boot Düsseldorf. What is a CVA or Company voluntary arrangement? The news has come as a shock to many. The road to reach today’s conclusion has been bumpy, but at each stage your team has supported and guided us through the issues and we have reached a very satisfactory outcome to the benefit of customers, staff, all creditors and shareholders. At the end of 2017, Oyster Yachts announced a full order book. And it didn’t’ stop there; Oyster Yachts recently publicised the progress of new moulds for two of its models (the 825 and 895), suggesting the company was growing and performing well. SUBSCRIBE TO OUR NEWSLETTER. We are investing in facilities to make this possible.”. Industry sources suggested that the company may have lost money in dealing with structural problems identified following the sinking of the Oyster yacht Polina Star III, which lost her keel and sank off the coast of Spain in 2015. Reportedly, the Southampton-based superyacht builder has informed all staff, some 160 individuals, that they will be losing their jobs. The investment of Oyster Yachts in bankruptcy concerns besides Oyster Marine, Oyster Brokerage and Oyster Palma. The company had previously reported … British luxury boat building company Oyster Yachts, established in 1973, has gone into liquidation. Feb06 2018 Posted by XS Editor. Further information will be issued as soon as we can.”. The unexpected news of the yacht builder’s collapse comes just weeks after its January announcement that it had ended 2017 with a record order book value in excess of £80 million, spread across the company’s range, including family-focused cruisers the Oyster 565, 595 and 675 as well as superyacht models including the 118, of which two had already sold. EYOTY/M. The company also recently announced the sale of their 23rd Oyster 625 to a Californian client. Oyster recently had the biggest sailing yacht on show at international Dusseldorf boat show but is rumoured to have gone into liquidation, with the doors closing today at their Southampton yard. Oyster Yachts in Liquidation. However, the yacht builder denies it is in liquidation. Who gets paid first when a company goes bust? Eine … The Southampton-based yacht builders, Oyster Yachts, went into liquidation on 6 February 2018. Wednesday, 07 February 2018 . British luxury boat building company Oyster Yachts, established in 1973, has gone into liquidation. The British luxury yacht builder Oyster Yachts is reported to have gone into liquidation as of 16.00 on Monday 5th February 2018 a statement said. Oyster Yachts has been rescued from administration by gaming software entrepreneur, Richard Hadida British boatbuilder, Oyster Yachts, which ceased operations last month after going into liquidation, has been thrown a lifeline by businessman, Mr Hadida. SHARES. Oyster Yachts in Liquidation >> Scuttlebutt Sailing... Log in or Sign up. It was reported yesterday afternoon that Oyster Yachts have gone into liquidation. The failure of the business, which builds, services and charters vessels of up to 118ft in length, came despite it having its … According to reports in the trade press and the company’s website, Oyster Yachts has ceased trading and has gone into liquidation. Oyster Yachts saved by Richard Hadida Yachting . It was reported yesterday afternoon that Oyster Yachts have gone into liquidation. Oyster Yachts is a luxury yacht building group that has been trading for more than 45 years. The number of job losses at each site is yet to be confirmed. Oyster Yachts Confirms Liquidation. David Tydeman told SYT: 'Right now we are not in administration or liquidation but have sent employees home with a notice of the risk of redundancy. In the meantime, 400 jobs within the Oyster Yacht group are at risk. Oyster Yachts in Liquidation Published on February 6th, 2018 British luxury boat building company Oyster Yachts, established in 1973, has gone into liquidation. Is my company insolvent? 2019 BANCROFT BAY FANTAIL 25 Beige. 160 employees lost their jobs. The causes for the liquidation are not yet clear, although some rumours state that the Dutch investment firm that owns the company (HTP Investments) has withdrawn financial support. It is understood that Oyster is currently seeking third-party financial support in order to continue operation. Take this insolvency test, HMRC Time to Pay Arrangement for VAT and PAYE. The number of job losses … It was only earlier this year that Oyster Yachts launched their award-winning model, the Oyster 745 at boot Düsseldorf. Ein Sprecher der Werft soll dies zunächst bestätigt haben. The company had made a significant … So plötzlich und unerwartet Anfang Februar die Zahlungsunfähigkeit der britischen Werft gekommen war, so … Oyster Yachts, the renowned British sailing yacht manufacturer, has, according to a number of sources, entered into liquidation after announcing a record £80million-plus order book on 10 January 2018. 26 March 2018 13:00 . So far, 160 staff at Saxon Wharf and 10 at Fox’s Marina, Ipswich, are facing redundancy. Marine Industry News wrote on Tuesday 6 February 2018 that Oyster Yachts CEO, David Tydeman made an official statement covering … The number of job losses at each site is yet to be confirmed. The main reason for the company’s sudden liquidation appears to be due to the heavily rumoured news that Dutch investment firm HTP Investments has withdrawn financial support for Oyster Yachts; They bought the company for just under £15 million in 2012. Tags: oyster yachts liquidation bankruptcy; Joined: Jun 2009 Posts: 856 Likes: 107, Points: 43, Legacy Rep: 218 Location: Roaring Forties JosephT … Staff are said to have found out that all employees are to be made redundant. Tags: oyster yachts liquidation bankruptcy; Joined: Jun 2009 Posts: 856 Likes: 107, Points: 43, Legacy Rep: 218 Location: Roaring Forties JosephT … The reasons for the crash are not yet known but around 150 jobs are thought to be at risk. Industry Database. Southampton-based boatbuilders, Oyster Yachts has announced this week that it has failed to secure financial support and are unable to continue to trade at this time. After ending 2017 with an £80 million order book and showcasing their newest model, the 745, only a month before at boot Düsseldorf, the future for Oyster looked bright. Oyster Yachts, which has a site at Wroxham, told staff that all operations had been stopped to prevent further losses, and that it was on the brink of insolvency. David Tydeman, Oyster Yacht’s CEO released this short statement on the company’s website; “It is with sincere regret that we advise that the Company has been unable to secure financial support to enable it to continue to trade at this time and it is looking at all opportunities available. Oyster Yachts presents their two new models Oyster 835 and 895, developed by Humphreys Yacht Design and the Oyster Design Team.I think the new yachts … Based in Southampton, with a boat yard in Hoveton, Norwich and offices in Ipswich, Palma; Majorca; and Newport, USA; has announced 400 job losses. Oyster Yacht news that’s making waves. It cost just under £15 million. Oyster Yachts in Liquidation Published on February 6th, 2018 British luxury boat building company Oyster Yachts, established in 1973, has gone into liquidation. Create an ad; Manage my ads; Boat selling tips; Useful Resources. Oyster Yachts in Liquidation – LUXUO. It is thought that there could be as many as 400 job losses for the company, which has construction bases in the UK’s Southampton and Norwich, as well as further offices in Ipswich (UK), Mallorca and Newport in the US. Featuring Reckmann hydraulic headsail furling, an … February 6, 2018. The world’s finest bluewater sailboats. The number of job losses … The group includes Oyster Marine Ltd, Oyster Brokerage Ltd and Southampton Yacht Services Ltd. Subscribe to our newsletter for yachting news, The … Marine Industry News wrote on Tuesday 6 February 2018 that Oyster Yachts CEO, David Tydeman made an official statement covering … We're exploring all options and things may change overnight. Further information will be issued as soon as we can.”. The news has come as a shock to many. All New Yachts; Oyster 495; Oyster 565; Oyster 595; Oyster 675; Oyster 745; Oyster 885 SII; Oyster 1225; Charter. The Southampton-based builder of sailing yachts went into collapse caused by a combination of low margins and poor cost control. Oyster is a British bluewater sailing yacht builder. Based in … We reported on the 22nd of January 'Oyster … Published on: Wed, 02/07/2018 - 17:18; Language English British luxury boat building company Oyster Yachts, established in 1973, has gone into liquidation. It was only earlier this year that Oyster Yachts launched their award-winning model, the Oyster 745 at boot Düsseldorf. COMPANY NUMBER 11260018. Oyster Yachts, the British yard that ceased operations last month has been saved from liquidation by tech entrepreneur Richard Hadida. These issues were revealed following the investigation into the sinking of the Polina Star III, which lost her keel on the coast of Spain in 2015. Photo: Oyster yachts What is it like working on a custom project? This move has cost over 150 people their jobs, although this number could rise even further. 160 jobs were in peril and KPMG was brought in as administrator during the bankruptcy. The Southampton-based builder of sailing yachts went into collapse caused by a combination of low margins and poor cost control. Reportedly, the Southampton-based superyacht builder has informed all staff, some 160 individuals, that they will be losing their jobs. However the story has now been confirmed. Oyster Yachts Confirms Liquidation. OysterStory claims to be a first-hand account of what happened to the Oyster 825-02 sailing yacht, PSIII, and how, in their opinion, the failure to handle the dispute adequately led to the liquidation of the Oyster Yachts’ shipyard. British luxury boatbuilder, Oyster Yachts, has gone into liquidation with the loss of 150 jobs Workers at the boatbuilding yard in Norfolk were sent home after being told their employer “has run out of cash”. Worried Director What Will Happen To Me After Liquidation? All Yachts for Sale; Contact Us +1 401 846 7400 [email … Explore. Oyster Yachts recently launched its new model, the Oyster 745, at the Dusseldorf Boat Show. The story of the keel loss of S/Y POLINA STAR III and the liquidation of the Oyster Yachts from the owner's view.It is a big image disaster when a sailing yacht loses a keel – the result is no… by René. Although details are scarce, SYT will release further details as they become available. 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