Oyster Yachts gone into administration

Oyster Yachts

It seems Oyster Yachts have called in the administrators this afternoon. I hope a buyer can be found and the workforce can find other jobs.
 
Re: Oyster Yachts

ARE said:
It seems Oyster Yachts have called in the administrators this afternoon. I hope a buyer can be found and the workforce can find other jobs.
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So who would the buyer use to continue the boat building?
 
If true yet another (one of a very few) quality UK boat builder down the toilet. A friend of mine has bought 3 starting with 46' ending with 575 fantastic boats
 
Scolly said:
If true yet another (one of a very few) quality UK boat builder down the toilet. A friend of mine has bought 3 starting with 46' ending with 575 fantastic boats
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Maybe but how many potential customers are there for high value, low volume boats? T
 
Sad ...

Discovery are raising money through crowdfunding with ambitious plans following acquisition of Southerly brand and mounds.

Seems a high risk game building high value bespoke yachts....

I concluded it wasn't for me as, much as I love the brand and it would be my lottery winning boat, but it has been oversubscribed despite my concern about viability of expansion
 
I wonder if there were issues hanging over them regarding the keel that fell off (Polina Star). You'd think that with a decent order book they would've tried administration otherwise.
 
Wages, premises and servicing costs are so much higher on the south coast, compared to Oysters east coast origin, that I suspect profitability dropped to a point that cash flow could not support the development of the Super yachts. Moreover maybe the Dutch owner’s decided that the possibility of tariffs against British goods going into Europe would make Oysters uncompetitive there and world wide if the UK ends up under world trade rules.
 
Kurrawong_Kid said:
Wages, premises and servicing costs are so much higher on the south coast, compared to Oysters east coast origin, that I suspect profitability dropped to a point that cash flow could not support the development of the Super yachts. Moreover maybe the Dutch owner’s decided that the possibility of tariffs against British goods going into Europe would make Oysters uncompetitive there and world wide if the UK ends up under world trade rules.
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Sorry Kid but as a statement it is more just speculation. Matthews had a formula that worked for many years during both good and bad economic times. He sold to a bunch of bean counters who had delusions of grandeur and more money than sense.
Maybe he should have taken the french builders route and then the UK would have been building boats that people round the world wanted, not our current crop of small volume builders aiming at a tiny market of mud plugging Luddites based in the south east of UK.
 
Don't worry Oyster fans, it will all be ok next month. I have a copy of the March 2018 Yachting World in front of me which boasts of a record year for Oyster Yachts!
 
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