Over 100 jobs at risk at Oyster Yachts

Written by Georgia Tindale

The British luxury sailing yacht builder, Oyster Yachts has announced that they are facing severe financial difficulties, with over 100 job losses threatened across their shipyards and offices. However, the exact number of job losses has not yet been confirmed by the company. 

Oyster Yachts statement screenshotOyster Yachts has been trading for more than 45 years and has yards based in Southampton, Hoveton and Norwich and offices based in Ipswich, Palma Majorca and Newport in the USA. 

The British brand announced that they had ended 2017 with an order book in excess of £80,000,000 in January and recently showcased their new Oyster 745 model which was launched at Boot Dusseldorf this year.

David Tydeman, the CEO of Oyster issued a statement on their website, saying: “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."

Oyster Yachts is expected to release a full statement soon. Although details are scarce, SYT will release further details as they become available.                  

David Tydeman told SYT: 'Right now we are not in administration or liquidation but have sent employees home with a notice of the risk of redundancy. We're exploring all options and things may change overnight. Oyster brokerage, Oyster charter and Oyster events are likely to continue.'  



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