One in every of Britain’s largest luxurious boat producers has collapsed into administration lower than two months after it was bought to new buyers.
Fairline Yachts is known to make use of about 250 folks, with no redundancies being triggered by the insolvency.
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The collapse of Fairline Yachts is shocking as a result of the corporate was solely bought early final month by Hanover Traders to Arrowbolt Propulsion Techniques, which was described in an announcement in regards to the deal as a “clean propulsion technology company”.
Additional particulars of that deal had been unclear, though the assertion in December stated that Arrowbolt was appointing Peter Hamlyn, an skilled business govt, as Fairline Yachts’ new chief govt.
“We’re grateful for the assist and understanding of employees and there are not any redundancies presently.
“We are actively pursuing a sale of the business and are confident of a substantial amount of interest given the recognised brand and strong heritage.
“We encourage events to make contact with us.”
Fairline Yachts’ collapse comes practically two years after rival Princess Yachts was bought to investor KPS Capital Companions.
Final autumn, Sunseeker, one other massive participant within the sector, was bought to worldwide buyers Lionheart Capital and Orienta Capital Companions.
