German shipyard Nobiskrug files for insolvency

Written by Kayla Dowling

The German shipyard Nobiskrug has filed for insolvency, according to reports by German news broadcasters. During the filings and insolvency proceedings, which commenced on 12 April, Nobiskrug cited “critical developments” on yacht construction having had negative consequences on investment and potential profitability, as the main reasons.Mogambo and Sapphire at the Nobiskrug shipyardPhoto: NobiskrugAccording to a representative, the pandemic has “exacerbated the situation, as Nobiskrug is losing orders and has had to live with the consequences of previous management decisions for a long time”.

Nobiskrug is operated under Privinvest, an international shipbuilding group. The bankruptcy filings come after Privinvest had not seen any returns on profit, with an investment of approximately 178 million euros, in recent years.



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