Oyster Yachts: Shocking news from England: Oyster apparently on the brink of collapse

According to an online report on the website of the English trade magazine "Yachting Monthly", Oyster Yachts announced its liquidation on Monday, 5 February. The 160 employees at the shipyard's headquarters in Southampton have been made redundant with immediate effect, according to the report. A spokesperson for the shipyard is said to have initially confirmed this. An official statement from the shipyard is expected in the coming days. No one at Oyster could be reached for comment by midday on Tuesday. Even the telephone switchboard apparently remained unmanned for the time being.

According to rumours and press reports, the Dutch private equity company HTP Investments, owner of Oyster Yachts, has withdrawn further financial support from the shipyard. This was announced by Oyster CEO David Tydeman in succinct words on the Website of Oyster confirmed. There he writes: "We deeply regret that the company was not able to obtain further financial support to remain operational at this time. The company is exploring all available options." Other content has since been removed from the website.

Various media outlets are also speculating that the "Polina Star III" accident may have caused additional financial turmoil for the shipyard. The Oyster 825 yacht sank off the Spanish coast in 2015 after a major keel break. In issue 5/2016, YACHT described the incident in detail and analysed the background to it. Miraculously, the crew remained unharmed.

The news from England comes as more than a surprise. Oyster Yachts has just presented the Oyster 745 at boot in Düsseldorf as a world first and the largest yacht in the sailboat halls. In addition, two exclusive superyachts, the 835 and 895 models, are currently under construction at Oyster. The shipyard recently reported favourably on the progress of their construction. The trade fair in Düsseldorf also appears to have gone well for the yacht builders in England. The yacht builders in Southampton announced further sales of new yachts on social networks.

Oyster Marine was founded and built up by Richard Matthews in 1973. In 2012, HTP-Investments in Holland took over the group of companies with the divisions Oyster Marine Ltd, Oyster Brokerage Ltd and Southampton Yacht Service. The shipyard enjoys a first-class reputation within the industry. The high quality and excellent workmanship of its products have since set standards within the industry. Oyster has also won the Queen's Award for Enterprises, one of the most prestigious honours for British companies.