The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.12 - Building of pleasure and sporting boats
0 jobs Number of planned job losses
Announcement Date
6 February 2018
Employment effect (start)
Foreseen end date
Description
Oyster Yachts, based in Southampton is reported to have gone into liquidation which will result in at least 170 job losses. According to the BCC 160 staff based in Southampton and 10 based in Ipswich are facing redundancy. Reports suggest the job losses could be as high as 400, though some of these may come from offices in Majorca or the USA. A statement from the luxury boatmaker confirmed that it had been unable to secure the funds to continue trading and it is looking at all options.
UPDATE 21/03/2018: The proposed job losses at Oyster yachts have been cancelled, following the sale of the business to Richard Hadida Yachting Company.
Sources
6 February 2018: BBC Website
7 February 2018: Southern Daily Echo
21 March 2018: BBC Website
Citation
Eurofound (2018), Oyster Yachts, Closure in United Kingdom, factsheet number 93272, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93272.
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