Shocking news came from the foggy shores of Albion!
Yesterday 5 Feb at 16:00 the famous British Builder Oyster Yachts has announced his elimination!
A week ago nothing was nepridumal of trouble, when the Oyster 745 was the largest sailing yacht at the boat show in Dusseldorf and attracted a lot of posetiteley. Also in January Oyster Yachts has announced in his Twitter account about the expanding range of models.
And here’s a shock: 160 qualified employees of the shipyard are losing their jobs.
According to rumors, HTP Investments, a Dutch investment firm, has refused financial support of the company. We can assume that the shipyard has not scored in confirmed orders at Boot Duesseldorf 2018that provoked the decision of the holder of the shares.
Oyster Marine was acquired by HTP Investments BV (HTP) for only £ 15 million in 2012. The company was sold in 2008 by founder Richard Matthews in a private equity firm Balmoral Capital of about 70 million pounds. The acquisition included the company the Oyster Group Oyster Marine Ltd, Oyster Brokerage Ltd and Southampton Yacht Services Ltd.
Industry sources suggested that the company may have lost money in addressing structural problems identified after the sinking of the yacht Oyster Polina Star III, which lost its keel and sank off the coast of Spain in 2015.
Yacht Oyster, was considered the equivalent of rolls Royce in the yachting world. And this news is really sad for fans of yachting. Let’s hope that Danny brand reborn.
Source: Yachting Monthlybankruptoyster