Wed, 09 Dec 2015 | ADMINISTRATION
Fairline, the luxury boat builder which entered administration, is being marketed for sale by the administrators FRP Advisory.
Fairline appointed administrators on 2 December after struggling with five different chief executives in the last few years. The company's financial position was also brought under review.
Now the anticipated job cuts and sale of the business are starting to kick in. FRP has said that it will keep 69 staff on a temporary basis in order to liaise with the company's existing clients but some 380 workers will lose their jobs.
The administrators are working to “ensure value can be realised from servicing existing orders”. Joint administrator Alastair Massey added: “The business is being marketed for sale … Fairline is a proud brand and has an array of loyal customers.”
There is a general perception that under the management and leadership the company still has life in it.
Fairline was sold by its private equity owners Better Capital in September 2015. The company sold it to Wessex Bristol, a group of luxury brands, in a deal that valued the business at £13.5 million. Just months later the yachtmaker filed for administration.
Fairline has bases in Corby and Oundle in Northamptonshire and has been producing a top-of-the-range product since the early 1960s.
Read more about Fairline entering administration. Or check out other businesses in administration.
This project represents the opportunity to acquire a traffic management service which has achieved extraordinary growth since its inception in 2022. The business has already managed to build strong relationships with their clients, many of whom retur...
Established in 2004, the business surpassed £1m in annual revenues for the first time in 10 years. This followed a decision made a decade ago to focus the company on more profitable and specialised work. The approach has been very successful and the...
This is a truly unique opportunity to acquire a market-leading company that has operated and evolved in a specialised technological sector for over 20 years. With their rich and longstanding history, the business has managed to build an impressive an...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.