This morning the German newspaper Kreiszeitung reports that the management of Drettmann filed for bankruptcy. The luxury yacht builder and dealer, based at the pier in Arberg Hemelingen, employs around 100 people.
According to the management the company suffered from the continued price erosion in the market for used yachts. A statement from the company said that the objective of the insolvency is to restructure the company and the preservation of jobs.
Drettmann was founded in 1970 and since 1993 the company builds luxury yachts in Taiwan and sells them worldwide.