Wed, 05 Mar 2014 | ADMINISTRATION
Mustang Marine, which was teetering on the edge of administration last week, has now been placed into the hands of Alistair Wardell, administrator at Grant Thornton, with a sale sought.
Sixty-six staff have been made redundant at the boatbuilding and repair business in Pembrokeshire, Wales, and were told not to turn up for work on Monday, 3 March. With the remaining 48 staff still on board, Mustang Marine is continuing to trade while the administrators work to identify “a buyer and new owner as quickly as possible”.
The business is presently working on several projects including constructing a £3 million catamaran to service offshore wind farms.
Mr Wardell is optimistic that a sale will be forthcoming, having received plenty of interest in all aspects of the business and with discussions with potential buyers ongoing over the next fortnight.
He told the BBC: “In the meantime, a number of parts of the existing business will carry on trading and working on some very exciting projects, which are already under way, thanks to some highly supportive customers.”
Mustang Marine has been established since 1984 and based at Pembroke Dock since 1997, building and supplying boats, such as pilot boats, wind farm support vessels, workboats and passenger vessels for commercial customers around the globe.
______________________________________________________________________
Related information:
Contact the administrator today
Welsh boatbuilding firm poised for administration
Represents an opportunity for a hospitality acquirer seeking a restaurant with additional takeaway in Harrow.
LEASEHOLD
Wedding venue business with accommodation and large restaurant for sale in Cambridgeshire. With a capacity for up to 110 wedding guests, the16th Century traditional building boasts original features, open fireplaces, exposed beams and elegant interio...
LEASEHOLD
Restaurant for sale in Hartley Wintney, Hampshire. Offering a 3-bed flat, a large car park, and a detached property.
LEASEHOLD
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.