Oyster is bankrupt !!!

Shocking news came from the shores of foggy Albion!

Oyster yachts

A week ago, nothing foreshadowed trouble when Oyster 745 was the largest sailing yacht at the Düsseldorf Boat Show, and attracted many sailors. Also in January Oyster yachts announced on Twitter about the expansion of the lineup.

And here's the shock: 160 qualified shipyard employees lose their jobs.

According to rumors, HTP Investments, a Dutch investment firm, withdrew financial support from the company. It can be assumed that the shipyard did not receive confirmed orders for Boot Duesseldorf 2018, which provoked the decision of the shareholder.

Oyster Marine was acquired by HTP Investments BV (HTP) for just £ 15 million in 2012. The company was sold in 2008 by founder Richard Matthews to the private equity firm Balmoral Capital for approximately £ 70 million. The acquisition included companies Oyster Group Oyster Marine Ltd, Oyster Brokerage Ltd and Southampton Yacht Services Ltd.

Industry sources have suggested that the company may have lost money in solving structural problems identified after the yacht's sinking. Oyster polina star iii, which lost its keel and sank off the coast of Spain in 2015.

Yachts Oyster, were considered the equivalent of a Rolls-Royce in the yachting world. And this news is really sad for yachting lovers. Let's hope that this brand will be revived.

A source: Yachting Monthly

06.02.2018