5th February 2018

Oyster Yachts Enter Administration

British boat builder OYSTER YACHTS announced that they have gone into administration after operations ceased today. Chief executive David Tydeman said 'We are in the process of entering administration, I can confirm that all staff have been made redundant, apart from a small team that we have kept on to work with the administrators'. He added that Oyster's events and brokerage businesses were likely to continue as a separate enterprise. KPMG confirmed 'No other companies within the group form part of this particular administration'.

In a statement on the company's website, David Tydeman added 'It is with sincere regret that we advise that the company has been unable to secure financial support to enable it to continue at this time and it is looking at all opportunities available. Further information will be issued as soon as we can'.

The news has come as a shock to many within the industry as Oyster recently reported its largest ever order book worth in excess of £80million. However, it is understood that Dutch majority shareholder HTP Investments BV withdrew its funding at the end of January.

Oyster employed more that 160 workers across two boat building facilities in Southampton and Norwich, as well as offices in Ipswich, Mallorca and Newport, Rhode Island.

The yard had planned to launch its new flagship series, the Oyster 118 this year, with a second hull to follow in 2020. Other recently announced projects include the 33 metre Project Alpha, a Reichel-Pugh design that was due to be built from carbon fibre, which would of been a first for the yard.

Latest tweet

Explore the new 2018 Pearl 65 Yacht, available now, for sale at Dbeere Yachts. https://t.co/f0D8IdvHFW https://t.co/2XK4dOGtsi
Dbeere Yachts
@dbeereyachts Feb 9
Rhp9 Si A5 Tmlhb Fw6 Gna3 Seabreacher S By Charterdart Racing 1600X900

Top Water Toys - SEABREACHER S

9th February 2018
Following the growing trend for semi-submersible toys Barcelona based brand Charterdart has been working with crew to develop the new Seabreacher S.
View
Boat Fire

31.4 Metre Astondoa 'ORDISI' destroyed by fire

7th February 2018
​A serious fire broke out on board the 31.4 metre Astondoa motor yacht 'Ordisi' yesterday afternoon.
View
Ywca Fx Zrxmml3X Rco4I E Baglietto Project 10226 Superyacht Under Construction 1600X900

Baglietto - Project 10228 due for launch July 2018

2nd February 2018
​Project 10228 by Italian yard Baglietto is taking shape ahead of a planned July launch.
View
Dk Daxl Mqfoucgb Aw4538 Planet Nine Yacht Launched Italian20Sea Group Project Antarctica Side View 1600X900

PLANET NINE , 74m - Admiral launch its largest yacht to date.

31st January 2018
Admiral - Italian Sea​ Group launch their largest superyacht to date, the fabulous PLANET NINE, a 74m explorer style yacht.
View