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Tech entrepreneur Richard Hadida is new owner of Oyster Yachts

  • Katy Stickland

Richard Hadida has announced the purchase of Oyster Yachts and all of its subsidiaries after the luxury boat builder went under in February

Oyster 675

Gaming software entrepreneur, Richard Hadida is the new owner of Oyster Yachts.

The British luxury yacht builder stopped production in February with the loss of some 380 employees at its UK sites at Southampton and Wroxham in Norfolk after the Dutch private equity firm, HTP Investments, announced it would no longer continue to financially support the company.

Hadida is now forming a management team, led by Oyster stalwart Paul Adamson, who captained Eddie Jordan’s Oyster 885, LUSH in the Oyster World Rally in 2014. Kim Stubbs, who was responsible for turning around the fortunes of Sunseeker, has also been brought in.

“It is going to be difficult, but with common sense and creativity we can turn this business around,” stressed Hadida, who is the founder and creative directive of Evolution Gaming.

“Oyster is the Bentley of the Sea, a great British brand, and it will remain so,” he added.

Hadida, who regularly sails on LUSH, told Yachting Monthly he has used his own personal fortune to buy Oyster and all of its subsidiaries, including Oyster Palma and Oyster Newport in the USA.

“Every part of the business, including brokerage and chartering, I plan to bring back to life,’ he noted.  ‘I am not looking to flip it, there is no exit planning, I am in it for the long run, it will be a lifetime business.”

His first priority will be on the 26 customers whose Oysters were in build when the company closed its doors.

“We are hoping to start employing people as of tomorrow. At the moment, we have boats in every stage of build from the mould to almost complete and we need to get people on these boats and building them fast. I want to get those yard doors open and start building boats again,” stressed Hadida.

Adamson added that the 26 customers with Oysters in build will get exactly what they ordered.

“Oyster owners five weeks ago were left high and dry. These 26 owners are our first priority which is to give them the Oyster they ordered so they don’t end up with a hybrid and they will have full warranty for what they ordered.”

Hadida believes it will take a few years to “get everything back on track”.

Part of this process will include looking at the manufacturing process to make it as efficient as possible so margins are maintained while still retaining the build quality which Oysters are known for.

“If the margins are not there, the boat will not be built,’ he stressed. With 40% of Oysters being sold to existing owners, Hadida believes there are also opportunities for smaller Oysters built with the same fundamental quality ‘so people can join the Oyster family earlier”.

Last week, it was announced that the original owner of Oyster, Richard Matthews, along with the boat builder’s former after sales manager, Sarah Harmer, and former quality manager, Will Taylor-Jones had formed the Ipswich-based Fox’s Yacht Services to provide a complete after sales support service to the owners of Oyster yachts regardless of their size, age or location.

Paul Adamson said they would be happy to work alongside anyone interested in collaborating, but stressed that Hadida owned the brand and the intellectual property of the technical drawings and moulds across the Oyster range.

Hadida also confirmed that the Polina Star III incident was now firmly in the firm’s past, and stressed a repeat “would never happen.”

In 2015, Oyster was forced to review the design and construction of its Oyster 825 after the second boat off the production line, Polina Star III, lost her keel and sank off the coast of Spain.

Oyster later went on the record to say the construction and design of the 825 took into account Classification Society Rules and other standards, and that its inspection of other 825s (not including Polina Star III) highlighted a possible weakness in the process used to build the inner structures of these vessels.

Administrators have been appointed to Oyster Marine Holdings Limited, the holding company of Oyster Yachts.

The firm, which has its headquarters in Southampton, and also trades from Wherstead in Suffolk, has two employees, and owns the Intellectual Property to all of the technical drawings and moulds used in the production of the yachts in the Oyster range.

In a statement, KPMG Restructuring said no other companies within the Oyster group form part of this particular administration.

This includes Oyster Marine, Oyster Brokerage and Oyster Palma.

Neil Gostelow, partner at KPMG and joint administrator, commented: “Late last week, the company directors confirmed that they had been unable to secure the financial support they needed to continue to trade the business. Our immediate priority will be to seek a buyer for the business and its assets and would encourage any interested parties to contact us as soon as possible.”

Interested parties are advised to contact William Lewis who is part of the Administration team on 07771 555540 or [email protected].

Meanwhile, managers at Oyster Yachts are continuing to look ‘for all opportunities available’ after the firm sent redundancy notices to all of its UK workforce, including employees at the Southampton boatyard at Saxon Wharf and the Wroxham base in Norfolk.

In the notice, Oyster CEO David Tydeman told employees that the company had “been unable to secure financial support to enable it to continue to trade at this time and it is now facing entering an insolvency procedure imminently.

“After considering all possible options, the Company has concluded that there is a risk that it will be unable to continue to provide work for all of its employees at all locations and that it is likely that it will have to make all of its employees redundant,” continued the notice.

“The Company has run out of cash and is unable to pay employees for work. The Company decided to close all operations yesterday (for the immediate future) to prevent or minimise all loss to employees and all other creditors”.

Tydeman added that third party financial support was needed if the firm was to continue trading.

Managers at Oyster Yachts say they’re ‘looking for all opportunities available’ after the company told workers to expect redundancies

The luxury yacht builder’s 160 staff at its Southampton boatyard at Saxon Wharf, along with its workers at Wroxham in Norfolk are all expected to be affected. It is unclear how it will impact Palma, Majorca and Newport, USA

Oyster CEO David Tydeman issued a statement today, 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’.

Recently, Oyster announced 2017 was a record year, with its order book reaching more than £80 million.

Oyster Marine was acquired by HTP Investments BV (HTP) for just under £15 million in 2012. The company was sold in 2008 by founder Richard Matthews to private equity company Balmoral Capital for about £70 million. The acquisition included the Oyster Group companies Oyster Marine Ltd, Oyster Brokerage Ltd and Southampton Yacht Services Ltd.

British luxury yacht builder Oyster Yachts has reportedly gone into liquidation as of 1600 on Monday (5 February).

Staff are said to have found out that all employees are to be made redundant in the news this afternoon. A spokesman for the company confirmed that a statement would be made  on Tuesday (6 February) but would not confirm or comment on the news. Staff have been asked to come into work tomorrow.

Sources have said that 160 staff at the Southampton boatyard have been told they will be losing their jobs.

Oyster Yachts recently launched their new model, the Oyster 745 at boot Düsseldorf,  at the end of January.

Recently embarking on a major project to build several 118ft superyachts, boosting jobs in the area, the quintessentially British brand announced an order book in excess of £80m worth of business only a few months ago.

HTP Investments, a Dutch investment firm, are rumoured to have withdrawn financial support for the company.

Industry sources suggested that the company may have lost money in dealing with structural problems identified following the sinking of the Oyster yacht Polina Star III, which lost her keel and sank off the coast of Spain in 2015.

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Oyster Yachts made the following statement at the time:

“Since the tragic loss of Polina Star III – Oyster 825-02 – in early July, Oyster has worked with a team of independent experts to review the design and construction of the Oyster 825. Since the recovery of Polina Star III from the seabed recently we have also worked with the various representatives of the Owner’s insurance Company and other stakeholders.

“The objective of this work was to establish beyond doubt how and why the loss occurred, the first of its kind in Oyster’s long history. First, it is important to note that the Oyster 825 design took into account Classification Society Rules and other standards and has been independently verified. Secondly, our inspection of the other 825s (not including Polina Star III) highlighted a possible weakness in the process used to build the inner structure of those vessels. This process has not been used on any other Oyster Yacht built over the last ~40 years and will not be used again.”

The announcement has taken staff and others in the industry by surprise. The company website was still advertising for job vacancies at the time of the announcement.

Jim Pugh, President and Founder of US-based yacht design studio Reichel Pugh commented, “I am very surprised and disappointed to hear the news about Oyster Yachts. They came to us in December for a higher performance 33m design and a development of their portfolio. It was an exciting project.”

The project, known as Project Alpha, would have taken Oyster into new territory on the superyacht racing circuit, building on the company’s recent 118ft superyacht build.

Report by Theo Stocker and Katy Stickland at Yachting Monthly

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oyster yachts liquidation

Oyster Yachts goes into liquidation

British luxury boatbuilder, oyster yachts, has gone into liquidation with the loss of 150 jobs.

oyster yachts liquidation

Workers at the boatbuilding yard in Norfolk were sent home after being told their employer “has run out of cash”.

Oyster Yachts, which has a site at Wroxham, told staff that all operations had been stopped to prevent further losses, and that it was on the brink of insolvency.

A letter sent to staff, published by the Eastern Daily Press, says the company “has been unable to secure financial support to enable it to continue to trade at this time and it is now facing entering into an insolvency procedure imminently”.

It adds: “After considering all possible options, the company has concluded that there is a risk that it will be unable to continue to provide work for all its employees at all locations and that it is likely that it will have to make all of its employees redundant. The company has run out of cash and is unable to pay employees for work.”

The company has decided to close all operations to “prevent or minimise all loss to employees and all other creditors”.

Oyster Yachts’ head office and yard is in Southampton, but it also has sites at Ipswich, Palma in Mallorca, and Newport, Rhode Island.

Oyster had been seen to be trading well, having launched just last month a new Oyster 745 model at the Dusseldorf boat show, and claiming a “record” order book of £80m on its website.

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Oyster Yachts saved from liquidation by tech entrepreneur Richard Hadida

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Oyster Yachts, the British yard that ceased operations last month has been saved from liquidation by tech entrepreneur Richard Hadida.

The Southampton-based builder of sailing yachts went into collapse caused by a combination of low margins and poor cost control. 160 jobs were in peril and KPMG was brought in as administrator during the bankruptcy. The company was saved by tech businessman Richard Hadida. Hadida is an experienced boat owner himself.

"We are delighted to have a concluded a sale of the business, ensuring the recommencement of yacht production at the sites in Southampton and Wroxham, together with the opportunities for employment that this will bring." commented Neil Gostelow, partner at KPMG.

The new ownership will allow construction to resume on its flagship project, the Oyster 118. Other 25 yachts are in various stages of completion at the two Oyster sites. The deal was concluded for an undisclosed sum and includes Oyster Marine Limited and Oyster Marine Holdings.

READ MORE: Oyster Yachts ceases operations

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Oyster Yachts in liquidation

Tuesday, February 6th, 2018

Written by: Marine Industry News

oyster yachts liquidation

It was reported yesterday afternoon that Oyster Yachts have gone into liquidation.

The news has come as a shock to many. It was only earlier this year that Oyster Yachts launched their award-winning model, the Oyster 745 at boot Düsseldorf. The company also recently announced the sale of their 23rd Oyster 625 to a Californian client.

oyster yachts liquidation

We reported on the 22nd of January  ‘Oyster Closes 2017 with a Record Order Book’  when Oyster CEO, David Tydeman said “We also have the very first Oyster 118 Superyacht, nearing completion in the UK at our Southampton facility and due to start sailing trials in June 2018.”

Sources say roughly 160 staff members will be made redundant.

It’s rumoured that HTP Investments, one of Oyster’s main investors, has withdrawn their financial support for the company.

Industry sources believe that Oyster Yachts may have also lost money as a result of the structural problems identified after the Polina Star III sank off the coast of Spain in 2015 due to losing her keel.

The company is expected to make a statement later today.

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This article was written and/or edited by the UK-based MIN team.

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Published on March 23rd, 2023 | by Editor

Oyster Yachts: Fifty years later

Published on March 23rd, 2023 by Editor -->

Barry and Sue Parkin, Olympians for Great Britain, passed on their elite DNA to sons Jack and Freddie who both have won youth world titles for the USA. But recent exploits for mom and dad, profiled in SAIL magazine , now involve their purchase of an Oyster 625.

With over 20 million sea miles and 100 circumnavigations of the world, Oyster Yachts is celebrating 50 years in 2023, a company known for its coveted range of award-winning bluewater sailing yachts handcrafted in the UK.

Oyster Yachts was started in 1973 by Sir Richard Matthews with his vision for the Oyster 34, a cruiser racer designed by Don Pye of Holman and Pye and built using local boatbuilders Landamores in Wroxham, Norfolk. By 1980, Matthews introduced the Oyster HP46. This yacht featured Oyster’s pioneering deck saloon, a signature feature on all Oyster Yachts.

Combining build quality and interior features that made Oyster Yachts synonymous with long-distance bluewater cruising, the range extended to include the Oyster 41, 43, 53, and 55. Then, working with yacht designer Stephen Jones, Matthews launched the Oyster SJ35, which went on the win several high-profile races.

oyster yachts liquidation

The launch of the Oyster 435 came in 1984, and Oyster also set up its highly successful Oyster Brokerage to meet the demand of boat owners wanting to upgrade to new models.

In 1999, Oyster commissioned naval architect Rob Humphreys to design the Oyster 56. This winning relationship continues today, with the Oyster 56 becoming the most successful model, with over 75 hulls sold. Humphreys and his team, now headed by his son Tom, have since designed 17 models, including the Oyster 46, 54, 575, 655, and 72.

The largest Oyster in the current fleet, the Oyster 885, was launched in 2010 and along with the Oyster 625, was the first to feature Oyster’s signature seascape windows. Now making Oyster Yachts instantly recognizable, this supported the integration of several innovative and technologically advanced exterior and interior design features, furthering its suitability for long-distance blue water cruising.

Oyster’s expansion saw an increase in skilled British craftspeople and the introduction of manufacturing facilities at Hythe in 2021, the birthplace of Oyster’s new 495. Already established as one of the company’s most successful models, the Oyster 495 won the 2023 European Yacht of the Year award.

The company took the lead in organizing worldwide events for its owners, including the first Caribbean Regatta in Antigua in 2001 and the Palma Regatta in 2002. These events continue to this day.

As mentioned in the SAIL article, Oyster initiated the Oyster World Rally to celebrate its 40th anniversary in 2013. This was a fully supported 18-month circumnavigation of the world, exclusively for Oyster yachts, which proved to be a massive success for existing and aspiring Oyster owners.

Subsequent rallies were run in 2017-18 and 2022-23, with the latest to conclude in Antigua this April which also marks the 100th Oyster to circumnavigate the world. Future Oyster World Rallies will take place in 2024-25 and 2026-27.

For the British luxury boat building company, 2018 proved to be a turbulent year . Despite a strong order book, Oyster Yachts went into liquidation though quickly rescued by gaming software entrepreneur Richard Hadida who “fell in love” with the yacht builder having sailed one of its vessels and was eager to save the brand.

“Oyster’s achievements in 50 years are too numerous to mention,” said Hadida. “But one thing is certain, our reputation is built as much on our quality of build as it is on special memories and life-changing experiences our owners have enjoyed over the last half-century.”

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oyster yachts liquidation

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

Michael Good

 ·  05.02.2018

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.

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An end for Oyster?

British yacht builder oyster has halted operations as the company’s future remains uncertain..

06 February 2018

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Oyster Yachts has gone into liquidation, it has been reported, as of the afternoon of 5 February. It is thought that there could be as many as 400 job losses for the company, which has construction bases in the UK’s Southampton and Norwich, as well as further offices in Ipswich (UK), Mallorca and Newport in the US.

In an announcement on the company’s website, David Tydeman, Oyster’s CEO, has stated:

“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 unexpected news of the yacht builder’s collapse comes just weeks after its January announcement that it had ended 2017 with a record order book value in excess of £80 million, spread across the company’s range, including family-focused cruisers the Oyster 565, 595 and 675 as well as superyacht models including the 118, of which two had already sold.

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In late January, Oyster’s newest model, the 22.74-metre Oyster 745, was launched and on display at the boot Düsseldorf boat show, and in December Oyster announced the signing of its latest project, the 110-foot (33.53-metre) Project Alpha, designed by Reichel/Pugh and the yard’s first to be built in carbon-epoxy.

According to reports in local media the  Eastern Daily Press , it was announced to staff at the company’s Wroxham yard on Monday 5 February that operations would be ceasing without delay in order to “prevent further losses, and that it was on the brink of insolvency”, and in a letter to staff the company had stated that it was likely that it would have to make all of its employees redundant.

In an interview with Ocean for Issue 77 (Dec 2017), Tydeman had commented that Oyster Group’s five-year plan was “shaped around a core focus on the seven new models between 56 and 118 feet, complemented by an increasing amount of custom new builds and restoration work. We are investing in facilities to make this possible.”

Industry sources suggested that the company may have lost money in dealing with structural problems identified following the sinking of the Oyster yacht Polina Star III, which lost her keel and sank off the coast of Spain in 2015.

It is understood that Oyster is currently seeking third-party financial support in order to continue operation. Further announcements from Oyster are expected in the coming days.

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Polina Star III's Keel Loss and Liquidation of Oyster Yachts

The story of the keel loss of s/y polina star iii and the liquidation of the oyster yachts from the owner's view..

It is a big image disaster when a sailing yacht loses a keel – the result is no stability and mostly leaks with water inflow. But the casket nail is the communication with the owner. The spontaneous liquidation of a good and big brand in the sailing and superyacht industry raises many questions. At the end of 2017, Oyster Yachts announced a full order book.

The owner of POLINA STAR III , Mr. Alexander V. Ezhkov and his team investigate also in the reasons of the liquidation on their website .

“This website was launched on 16 February 2018, following the liquidation announcement of Oyster Yachts. It was created to shed light on the practices of the Oyster Yachts owners and management.”

The price of an Oyster 825 is about 5 Mio. EUR. Pictures via the owner’s team of POLINA STAR III .

Polina Star III Sailing Yacht Keel Loss

I met great people at Oyster. Marketing and PR supported me at any times and also the members of the yacht crew they sailed yachts to exhibitions were very kind. It was a pleasure and I hope to meet the people with other brands again.

New chapter for Oyster Yachts?

Update March 20th, 2018: Sailing Today reported , that Richard Hadida (co-founder of Evolution Gaming Group) will save the Oyster Yachts from liquidation.

“I believe we must save this great British brand and nurture it for the long term. But it needs to be a sustainable business: hard, quick decisions need to be taken. The boatbuilding industry needs to evolve like every other industry.”

Update March 29, 2018: Oyster Yachts published a statement by the new CEO Richard Hadida:

“As the new owner of Oyster Yachts, my immediate priorities are with our valued staff and loyal customers. I intend to get our team back to work, reemployed as soon as possible, and to recommence yacht production to fulfil the orders we have promised. As a passionate advocate of Oyster Yacht and a lifelong sailor, I’m firmly committed to reestablishing Oyster as the premium designer and manufacturer of yachts in the word. I’m excited about the challenges ahead and look forward to sharing this journey with you.”

New life as CHAMPAGNE HIPPY

POLINA STAR III has been rebuilt and sails now under the new name CHAMPAGNE HIPPY.

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55m sailing yacht concept // philippe briand, dahm 120 by beiderbeck designs – a 36m accessibly sailing yacht, pink gin vi // baltic yachts, meraki // 50m classic ketch // vitters, oyster presents new 835 and 895, philippe briand presents 39m sloop for perini navi, ribelle // vitters // malcolm mckeon // rémi tessier, topaz (j8) // holland jachtbouw // j-class.

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By SuperyachtNews 07 Feb 2018

UPDATE: Oyster Yachts enters administration

Kpmg has confirmed oyster yachts has officially entered into administration ….

Image for article UPDATE: Oyster Yachts enters administration

News Update. 7 February 2018.

Neil Gostelow and Mark Orton from KPMG have been appointed joint administrators to Oyster Marine Holdings Limited, the holding company for the Oyster Yacht group of luxury yacht builders.

Having failed to secure sufficient funding to be able to continue trading, Oyster Yachts is currently carefully considering a number of options. No other companies within the group will form part of this administration. 

Oyster Marine Holdings will retain the intellectual property to all the technical drawings and moulds used in the production of the yacht in the Oyster range.

"Late last week, the company directors confirmed that they had been unable to secure the financial support they needed to continue to trade the business," comments Neil Gostelow, partner at KPMG and joint administrator. "Our immediate priority will be to seek a buyer for the business and its assets and would encourage any interested parties to contact us as soon as possible."

______________________

Oyster Yachts, the renowned British sailing yacht manufacturer, has, according to a number of sources, entered into liquidation after announcing a record £80million-plus order book on 10 January 2018. Reportedly, the Southampton-based superyacht builder has informed all staff, some 160 individuals, that they will be losing their jobs. SuperyachtNews speaks exclusively with David Tydeman, CEO of Oyster Yachts.

“We are not in administration at the moment and we are not in liquidation,” starts Tydeman. “Yesterday, however, we did start a consultation with all staff about potential redundancy, because we do not have the means to pay them at the moment.”

It has been suggested that HTP Investments, the Dutch financial vehicle that purchased Oyster Yachts in 2012 for around £15million, has withdrawn its financial support from the enterprise, this follows a period of investment that saw Oyster Yachts expand the facilities at its Southampton Shipyard in 2017 and continue to invest in new designs and models, including the new Oyster 745 that was launched at Boot Dusseldorf in January. Tydeman was unable to comment on company’s current position.

“It is with sincere regret that we advise that the company [Oyster Yachts] has been unable to secure financial support to enable it to continue to trade at this time and it is looking at all opportunities available. Further information will be issued as soon as we can,” reads a statement from Tydeman on the company’s website. The admission that financial support has led to the closure of operations at Oyster lends credence to the suggestion that the closure comes as a result of HTP Investments removing its funding.

As well as a series of sub-30m projects, the size range for which Oyster Yachts was best known, the British stalwart also has two 37.45m Oyster 118 projects currently in build, due for delivery in 2018 and 2020.  Work on both superyachts and all other vessels has been suspended.

Oyster Yachts becomes one of many superyacht shipyards to cease operation over the last 10 years, indeed in 2008 there was 268 vessels delivered across 118 shipyards, by comparison there was only 124 vessels delivered in 2017 across 51 shipyards. 

“We are going to conclude the next steps day by day and we are chasing every option available to use. We’ve had to stop boat building at the moment, close the doors and we are just trying to protect the building, the assets and everything else. Our priority right now is our staff and boat owners,” concludes Tydeman.

Oyster Yachts is yet to release a full statement, but SuperyachtNews will provide an update on the situation as more details continue to be released. A full statement is due in the coming days.

In The Superyacht Annual Report: New Build 2018 we analyse the dramatic reduction in active shipyards and explore the idea that the market has entered a period of consolidation.

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Yachting Monthly

  • Digital edition

Yachting Monthly cover

Buyer confirmed for Oyster: recruitment underway for staff

  • Katy Stickland
  • March 20, 2018

Entrepreneur Richard Hadida announces he has bought Oyster Yachts and all of its subsidiaries after the luxury boat builder went under in February

Oyster Yachts

20 March 2018

Gaming software entrepreneur, Richard Hadida is the new owner of Oyster Yachts.

The British luxury yacht builder stopped production in February with the loss of some 380 employees at its UK sites at Southampton and Wroxham in Norfolk after the Dutch private equity firm, HTP Investments, announced it would no longer continue to financially support the company.

Hadida is now forming a management team, led by Oyster stalwart Paul Adamson, who captained Eddie Jordan’s Oyster 885, LUSH in the Oyster World Rally in 2014. Kim Stubbs, who was responsible for turning around the fortunes of Sunseeker, has also been brought in.

‘ It is going to be difficult, but with common sense and creativity we can turn this business around,’ stressed Hadida, who is the founder and creative directive of Evolution Gaming.

‘Oyster is the Bentley of the Sea, a great British brand, and it will remain so,’ he added.

Richard Hadida, owner of Oyster

Richard Hadida is now at the helm of Oyster Yachts

Hadida, who regularly sails on LUSH, told Yachting Monthly he has used his own personal fortune to buy Oyster and all of its subsidiaries, including Oyster Palma and Oyster Newport in the USA.

‘Every part of the business, including brokerage and chartering, I plan to bring back to life,’ he noted.  ‘I am not looking to flip it, there is no exit planning, I am in it for the long run, it will be a lifetime business.’

His first priority will be on the 26 customers whose Oysters were in build when the company closed its doors.

‘We are hoping to start employing people as of tomorrow. At the moment, we have boats in every stage of build from the mould to almost complete and we need to get people on these boats and building them fast. I want to get those yard doors open and start building boats again,’ stressed Hadida.

Oyster Yachts is now actively recruiting for staff

Adamson added that the 26 customers with Oysters in build will get exactly what they ordered.

‘Oyster owners five weeks ago were left high and dry. These 26 owners are our first priority which is to give them the Oyster they ordered so they don’t end up with a hybrid and they will have full warranty for what they ordered.’

Hadida believes it will take a few years ‘to get everything back on track’.

Part of this process will include looking at the manufacturing process to make it as efficient as possible so margins are maintained while still retaining the build quality which Oysters are known for.

‘If the margins are not there, the boat will not be built,’ he stressed. With 40% of Oysters being sold to existing owners, Hadida believes there are also opportunities for smaller Oysters built with the same fundamental quality ‘so people can join the Oyster family earlier’.

An Oyster yacht under sail

The Oyster 885 LUSH Credit: Oyster Yachts

Last week, it was announced that the original owner of Oyster, Richard Matthews, along with the boat builder’s former after sales manager, Sarah Harmer, and former quality manager, Will Taylor-Jones had formed the Ipswich-based Fox’s Yacht Services to provide a complete after sales support service to the owners of Oyster yachts regardless of their size, age or location.

Paul Adamson said they would be happy to work alongside anyone interested in collaborating, but stressed that Hadida owned the brand and the intellectual property of the technical drawings and moulds across the Oyster range.

Hadida also confirmed that the Polina Star III incident was now firmly in the firm’s past, and stressed a repeat ‘would never happen.’

In 2015, Oyster was forced to review the design and construction of its Oyster 825 after the second boat off the production line, Polina Star III, lost her keel and sank off the coast of Spain.

Oyster later went on the record to say the construction and design of the 825 took into account Classification Society Rules and other standards, and that its inspection of other 825s (not including Polina Star III) highlighted a possible weakness in the process used to build the inner structures of these vessels.

07 February 2018

Administrators have been appointed to Oyster Marine Holdings Limited, the holding company of Oyster Yachts.

The firm, which has its headquarters in Southampton, and also trades from Wherstead in Suffolk, has two employees, and holds the Oyster Group’s interest in the intellectual property of the technical drawings and moulds used in the production of the yachts in the Oyster range.

In a statement, KPMG Restructuring said no other companies within the Oyster group form part of this particular administration.

This includes Oyster Marine, Oyster Brokerage and Oyster Palma.

Neil Gostelow, partner at KPMG and joint administrator, commented: “Late last week, the company directors confirmed that they had been unable to secure the financial support they needed to continue to trade the business. Our immediate priority will be to seek a buyer for the business and its assets and would encourage any interested parties to contact us as soon as possible.”

Interested parties are advised to contact William Lewis who is part of the Administration team on 07771 555540 or [email protected].

Meanwhile, managers at Oyster Yachts are continuing to look ‘for all opportunities available’ after the firm sent redundancy notices to all of its UK workforce, including employees at the Southampton boatyard at Saxon Wharf and the Wroxham base in Norfolk.

In the notice, Oyster CEO David Tydeman told employees that the company had “been unable to secure financial support to enable it to continue to trade at this time and it is now facing entering an insolvency procedure imminently.

“After considering all possible options, the Company has concluded that there is a risk that it will be unable to continue to provide work for all of its employees at all locations and that it is likely that it will have to make all of its employees redundant,” continued the notice.

“The Company has run out of cash and is unable to pay employees for work. The Company decided to close all operations yesterday (for the immediate future) to prevent or minimise all loss to employees and all other creditors”.

Tydeman added that third party financial support was needed if the firm was to continue trading.

06 February 2018

Managers at Oyster Yachts say they’re ‘looking for all opportunities available’ after the company told workers to expect redundancies

The luxury yacht builder’s 160 staff at its Southampton boatyard at Saxon Wharf, along with its workers at Wroxham in Norfolk are all expected to be affected. It is unclear how it will impact Palma, Majorca and Newport, USA

Oyster CEO David Tydeman issued a statement today, 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’.

Recently, Oyster announced 2017 was a record year, with its order book reaching more than £80 million.

Oyster Marine was acquired by HTP Investments BV (HTP) for just under £15 million in 2012. The company was sold in 2008 by founder Richard Matthews to private equity company Balmoral Capital for about £70 million. The acquisition included the Oyster Group companies Oyster Marine Ltd, Oyster Brokerage Ltd and Southampton Yacht Services Ltd.

05 February 2018

The British luxury yacht builder Oyster Yachts is reported to have gone into liquidation as of 1600 on Monday 5 February 2018.

Staff are said to have found out that all employees are to be made redundant in the news this afternoon. A spokesman for the company confirmed that a statement would be made on Tuesday 6 Feb but would not confirm or comment on the news. Staff have been asked to come into work tomorow

Oyster Yachts recently launched their new model, the Oyster 745 at boot Düsseldorf, the German Boat Show at the end of January.

Sources have said that 160 staff at the Southampton boatyard have been told they will be losing their jobs.

Oyster recently had the biggest sailing yacht on show at international Dusseldorf boat show but is rumoured to have gone into liquidation, with the doors closing today at their Southampton yard.

Recently embarking on a major project to build several 118ft superyachts, boosting jobs in the area, the quintessentially British brand announced an order book in excess of £80m worth of business only a few months ago. The company recently publicised the progress of some new moulds for their Oyster 825 and 895 models:

Exciting times at #OysterYachts as the new deck tooling takes shape. Through smart #engineering , this #deckmould can be used on either the new #Oyster895 or the #Oyster835 . To find out more and to view our current fleet visit: https://t.co/akEp3LXvXx . #BritishBuilt #Superyachts pic.twitter.com/U8SDvMDorH — Oyster Yachts (@OysterMarine) January 5, 2018

HTP Investments, a Dutch investment firm, are rumoured to have withdrawn financial support for the company.

Industry sources suggested that the company may have lost money in dealing with structural problems identified following the sinking of the Oyster yacht Polina Star III, which lost her keel and sank off the coast of Spain in 2015.

Oyster Yachts made the following statement at the time:

‘Since the tragic loss of Polina Star III – Oyster 825-02 – in early July, Oyster has worked with a team of independent experts to review the design and construction of the Oyster 825. Since the recovery of Polina Star III from the seabed recently we have also worked with the various representatives of the Owner’s insurance Company and other stakeholders.

‘The objective of this work was to establish beyond doubt how and why the loss occurred, the first of its kind in Oyster’s long history. First, it is important to note that the Oyster 825 design took into account Classification Society Rules and other standards and has been independently verified. Secondly, our inspection of the other 825s (not including Polina Star III) highlighted a possible weakness in the process used to build the inner structure of those vessels. This process has not been used on any other Oyster Yacht built over the last ~40 years and will not be used again.’

The announcement has taken staff and others in the industry by surprise. The company website was still advertising for job vacancies at the time of the announcement.

Jim Pugh, President and Founder of US-based yacht design studio Reichel Pugh commented, ‘I am very surprised and disappointed to hear the news about Oyster Yachts. They came to us in December for a higher performance 33m design and a development of their portfolio. It was an exciting project.’

The project, known as Project Alpha, would have taken Oyster into new territory on the superyacht racing circuit, building on the company’s recent 118ft superyacht build.

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Oyster Marine goes into Liquidation

Discussion in ' Press Releases ' started by RHP , Feb 13, 2018 .

RHP

RHP Senior Member

07 February 2018 Administrators have been appointed to Oyster Marine Holdings Limited, the holding company of Oyster Yachts. The firm, which has its headquarters in Southampton, and also trades from Wherstead in Suffolk, has two employees, and holds the Oyster Group’s interest in the intellectual property of the technical drawings and moulds used in the production of the yachts in the Oyster range. In a statement, KPMG Restructuring said no other companies within the Oyster group form part of this particular administration. This includes Oyster Marine, Oyster Brokerage and Oyster Palma. Administrators appointed to Oyster Marine Holdings Limited - Yachting Monthly http://www.yachtingmonthly.com/news/oyster-yachts-gone-liquidation-2-64825#GGilbukuXPXsc681.01 Read more at Administrators appointed to Oyster Marine Holdings Limited - Yachting Monthly http://www.yachtingmonthly.com/news/oyster-yachts-gone-liquidation-2-64825#800H8dcWizMZAUmi.99  
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Oyster Yachts in liquidation

  • Thread starter Scott B
  • Start date Feb 6, 2018
  • Forums for All Owners
  • Ask All Sailors

Scott B

http://www.yachtingmonthly.com/news/oyster-yachts-gone-liquidation-2-64825#dCAZAjUmAVQEP2wX.01  

Gunni

Oyster, a British company, was drawing it’s funding from Euro zone investors. Apparently an 80 million Pound book of business ain’t what it used to be.  

Jackdaw

Oh bummer. It has been thought that the Dutch investors were VERY worried about exposure after the Polina Star III accident. While Oyster said the design issue that cause the catastrophic hull failure was contained to just a few boats, existing and potential owners were not buying it. It might come back as a new entity as a way to shed the existing product liability. Not the first time that game has been played.  

Jackdaw said: Oh bummer. It has been thought that the Dutch investors were VERY worried about exposure after the Polina Star III accident. While Oyster said the design issue that cause the catastrophic hull failure was contained to just a few boats, existing and potential owners were not buying it. It might come back as a new entity as a way to shed the existing product liability. Not the first time that game has been played. Click to expand
Scott B said: Saw this on Facebook. Sounds more like a financial backer pulled the plug rather than Oyster ducking liabilities? Or maybe the financial backer had those thoughts? They just launched a 745 at the Dusseldorf Show. Click to expand

That book of business is dependent on A LOT of foreign manufacturering supply material that will need to be bought with British Pounds, a currency that is dropping fast. That suggests the Dutch investors don’t see the margins represented by Oyster as being realistic. Look for Oyster to re-org in the Eurozone, if at all.  

Joe

Shoot, you mean I might have to wait a few years to get my new 745? I was going to start a new forum Oysterowners.com. It's just not fair.  

kloudie1

Beautiful boats; sad to hear.. I have only been on two different ones; at the Annapolis show and at a show in Roche Harbor in the San Juans.. Super well thought out and made to live aboard.. kinda like a luxury model of an Amel..  

A lot of would-be owners VERY interested in their deposits now.......  

AlastairLC

Revenge for Brexit?  

AlastairLC said: Revenge for Brexit? Click to expand

capta

In have a feeling that this is the beginning of a trend towards the big, luxury roomarans. Nothing can beat those monstrosities for comfort, space and modcons, which I'm sure most of the wives prefer to sailing ability. Heck, one could carry a snipe or similar sailing boat (or two!) on a 72 footer and still have room for a really nice RIB. I've even seen circular staircases on those babies!  

The former owner of PS3 has a big tale to tell, and has a very nice web site to make it all presentable. One side of the story of course, but there is lots of supporting evidence, and then of course the actual factual narrative that mirrors it. Taken at face value, it looks like Oyster tried to sweep it all under the rug right up until the last moment, and turned the story of a bad boat into a company destroying mess. http://oysterstory.info/  

Thanks, that is a fascinating read. Oyster seemed to be run more like a amateur boutique shop than the big business I thought they were. I had read the keel loss report previously, this takes it to the bitter end. Clearly there were build problems. But what surprises me is the apparent lack of Oyster's professional liability indemnification. Responsible contractors don't build things without liability insurance and surely a sinking boat would be within the realm of possible for Oyster. I suspect that Oyster had let its insurance lapse, perhaps they never had any insurance. Stunning. The Dutch investment company got Oyster for a pretty good price - 15 million BP. Not bad for a well-regarded hot luxury yacht company with a backorder book. But if Oyster takes a 5 million BP loss with no insurance while Britain is checking out of the European Union and thumbing their nose at the EU Court of Justice...I can see where the yard investor would say, "crazy, let's be done with these guys".  

Gunni said: But what surprises me is the apparent lack of Oyster's professional liability indemnification. Responsible contractors don't build things without liability insurance and surely a sinking boat would be within the realm of possible for Oyster. I suspect that Oyster had let its insurance lapse, perhaps they never had any insurance. Stunning. Click to expand
Jackdaw said: http://oysterstory.info/ Click to expand
Jackdaw said: And the Dutch are just as much to blame. NO WAY a non-equity CEO makes that call without BoD approval and blessing. Click to expand

Tally Ho

The write up mentions the owner of 825-03. PSIII WAS 825-02. Anyone know what came of 825-01? Greg  

825-01 was named Reina and ended up in the high end charter trade for a while. Last heard she was on the market and sold.  

Gunni said: HTP Investments picked up Oyster for pocket change, roughly 20% of what it sold for 4 years earlier. A whimsical purchase of a prestige brand, I'm betting they weren't paying that close of attention to the situation. Looks like KPMG has the liquidation contract and I would be surprised if the Dutch don't get their 15 million BP back and more from the proceeds. Put some real boat yard management in there and get back to work. Click to expand
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Oyster Yachts gone into administration

  • Thread starter Happyboating
  • Start date 5 Feb 2018

Happyboating

http://www.yachtingmonthly.com/news/oyster-yachts-gone-liquidation-2-64825  

Oyster Yachts It seems Oyster Yachts have called in the administrators this afternoon. I hope a buyer can be found and the workforce can find other jobs.  

matthewriches

matthewriches

Active member, well-known member.

ARE said: It seems Oyster Yachts have called in the administrators this afternoon. I hope a buyer can be found and the workforce can find other jobs. Click to expand...

If true yet another (one of a very few) quality UK boat builder down the toilet. A friend of mine has bought 3 starting with 46' ending with 575 fantastic boats  

Cheery

I expect Eddie will have to find another manufacturer then. https://www.boatinternational.com/l...nd-why-he-needs-a-bigger-sailing-yacht--35485  

Champagne Murphy

Champagne Murphy

The folks who put down 50% up front on a new build are going to be peeved, I imagine.  

Scolly said: If true yet another (one of a very few) quality UK boat builder down the toilet. A friend of mine has bought 3 starting with 46' ending with 575 fantastic boats Click to expand...

The report says liquidation. That's less hopeful than administration. Very bad news.  

pvb

Mr Matthews knew when to walk away!  

capnsensible

capnsensible

Sold a turkey?  

Sybarite said: Maybe but how many potential customers are there for high price , low volume boats? Click to expand...

Sad ... Discovery are raising money through crowdfunding with ambitious plans following acquisition of Southerly brand and mounds. Seems a high risk game building high value bespoke yachts.... I concluded it wasn't for me as, much as I love the brand and it would be my lottery winning boat, but it has been oversubscribed despite my concern about viability of expansion  

I wonder if there were issues hanging over them regarding the keel that fell off (Polina Star). You'd think that with a decent order book they would've tried administration otherwise.  

Kurrawong_Kid

Wages, premises and servicing costs are so much higher on the south coast, compared to Oysters east coast origin, that I suspect profitability dropped to a point that cash flow could not support the development of the Super yachts. Moreover maybe the Dutch owner’s decided that the possibility of tariffs against British goods going into Europe would make Oysters uncompetitive there and world wide if the UK ends up under world trade rules.  

Kurrawong_Kid said: Wages, premises and servicing costs are so much higher on the south coast, compared to Oysters east coast origin, that I suspect profitability dropped to a point that cash flow could not support the development of the Super yachts. Moreover maybe the Dutch owner’s decided that the possibility of tariffs against British goods going into Europe would make Oysters uncompetitive there and world wide if the UK ends up under world trade rules. Click to expand...
Scolly said: ...not our current crop of small volume builders aiming at a tiny market of mud plugging Luddites based in the south east of UK. Click to expand...

Don't worry Oyster fans, it will all be ok next month. I have a copy of the March 2018 Yachting World in front of me which boasts of a record year for Oyster Yachts!  

lpdsn said: I wonder if there were issues hanging over them regarding the keel that fell off (Polina Star). Click to expand...

Time for a pre-pack, no doubt.  

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The Unique Burial of a Child of Early Scythian Time at the Cemetery of Saryg-Bulun (Tuva)

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Pages:  379-406

In 1988, the Tuvan Archaeological Expedition (led by M. E. Kilunovskaya and V. A. Semenov) discovered a unique burial of the early Iron Age at Saryg-Bulun in Central Tuva. There are two burial mounds of the Aldy-Bel culture dated by 7th century BC. Within the barrows, which adjoined one another, forming a figure-of-eight, there were discovered 7 burials, from which a representative collection of artifacts was recovered. Burial 5 was the most unique, it was found in a coffin made of a larch trunk, with a tightly closed lid. Due to the preservative properties of larch and lack of air access, the coffin contained a well-preserved mummy of a child with an accompanying set of grave goods. The interred individual retained the skin on his face and had a leather headdress painted with red pigment and a coat, sewn from jerboa fur. The coat was belted with a leather belt with bronze ornaments and buckles. Besides that, a leather quiver with arrows with the shafts decorated with painted ornaments, fully preserved battle pick and a bow were buried in the coffin. Unexpectedly, the full-genomic analysis, showed that the individual was female. This fact opens a new aspect in the study of the social history of the Scythian society and perhaps brings us back to the myth of the Amazons, discussed by Herodotus. Of course, this discovery is unique in its preservation for the Scythian culture of Tuva and requires careful study and conservation.

Keywords: Tuva, Early Iron Age, early Scythian period, Aldy-Bel culture, barrow, burial in the coffin, mummy, full genome sequencing, aDNA

Information about authors: Marina Kilunovskaya (Saint Petersburg, Russian Federation). Candidate of Historical Sciences. Institute for the History of Material Culture of the Russian Academy of Sciences. Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail: [email protected] Vladimir Semenov (Saint Petersburg, Russian Federation). Candidate of Historical Sciences. Institute for the History of Material Culture of the Russian Academy of Sciences. Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail: [email protected] Varvara Busova  (Moscow, Russian Federation).  (Saint Petersburg, Russian Federation). Institute for the History of Material Culture of the Russian Academy of Sciences.  Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail:  [email protected] Kharis Mustafin  (Moscow, Russian Federation). Candidate of Technical Sciences. Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected] Irina Alborova  (Moscow, Russian Federation). Candidate of Biological Sciences. Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected] Alina Matzvai  (Moscow, Russian Federation). Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected]

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Anti-semitic attitudes of the mass public: estimates and explanations based on a survey of the moscow oblast.

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In this article we examine anti-Semitism as expressed by a sample of residents of the Moscow Oblast (Soviet Union). Based on a survey conducted in 1920, we begin by describing anti-Jewish prejudice and support for official discrimination against Jews. We discover a surprisingly low level of expressed anti-Semitism among these Soviet respondents and virtually no support for state policies that discriminate against Jews. At the same time, many of the conventional hypotheses predicting anti-Semitism are supported in the Soviet case. Anti-Semitism is concentrated among those with lower levels of education, those whose personal financial condition is deteriorating, and those who oppose further democratization of the Soviet Union. We do not take these findings as evidence that anti-Semitism is a trivial problem in the Soviet Union but, rather, suggest that efforts to combat anti-Jewish movements would likely receive considerable support from ordinary Soviet people.

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IMAGES

  1. Oyster Yachts: Britische Nobel-Werft gibt Liquidation bekannt

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  2. Oyster Yachts Liquidation

    oyster yachts liquidation

  3. Oyster Yachts saved from liquidation by tech entrepreneur Richard Had

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  4. Oyster Yachts in Liquidation >> Scuttlebutt Sailing News: Providing

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  5. Breaking News: Oyster Yachts Goes into Liquidation

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  6. Oyster Yachts goes into liquidation and cuts 150 jobs

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COMMENTS

  1. Tech entrepreneur Richard Hadida is new owner of Oyster Yachts

    Richard Hadida has announced the purchase of Oyster Yachts and all of its subsidiaries after the luxury boat builder went under in February. 20 March. Gaming software entrepreneur, Richard Hadida is the new owner of Oyster Yachts. The British luxury yacht builder stopped production in February with the loss of some 380 employees at its UK sites ...

  2. Oyster Yachts in Liquidation

    Published on February 6th, 2018. British luxury boat building company Oyster Yachts, established in 1973, has gone into liquidation. Based in Southampton, with a boat yard in Hoveton, Norwich and ...

  3. Oyster Yachts goes into liquidation

    Oyster had been seen to be trading well, having launched just last month a new Oyster 745 model at the Dusseldorf boat show, and claiming a "record" order book of £80m on its website. British luxury boatbuilder, Oyster Yachts, has gone into liquidation with the loss of 150 jobs.

  4. Oyster Yachts saved from liquidation by tech entrepreneur Richard

    Oyster Yachts, the British yard that ceased operations last month has been saved from liquidation by tech entrepreneur Richard Hadida. The Southampton-based builder of sailing yachts went into collapse caused by a combination of low margins and poor cost control. 160 jobs were in peril and KPMG was brought in as administrator during the bankruptcy.

  5. Oyster Yachts in liquidation

    It was reported yesterday afternoon that Oyster Yachts have gone into liquidation. The news has come as a shock to many. It was only earlier this year that Oyster Yachts launched their award-winning model, the Oyster 745 at boot Düsseldorf. The company also recently announced the sale of their 23rd Oyster 625 to a Californian client.

  6. Oyster Yachts: Fifty years later

    With over 20 million sea miles and 100 circumnavigations of the world, Oyster Yachts is celebrating 50 years in 2023, a company known for its coveted range of award-winning bluewater sailing ...

  7. Oyster Yachts: Shocking news from England: Oyster apparently on the

    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 ...

  8. Oyster Yachts goes into liquidation and cuts 150 jobs

    British luxury boat building company Oyster Yachts, established in 1973, has gone into liquidation. Based in Southampton, with a boat yard in Hoveton, Norwich and offices in Ipswich, Palma, Majorca and Newport, USA, has announced 150 job losses. The number of job losses at each site is yet to be...

  9. An end for Oyster?

    Oyster Yachts has gone into liquidation, it has been reported, as of the afternoon of 5 February. It is thought that there could be as many as 400 job losses for the company, which has construction bases in the UK's Southampton and Norwich, as well as further offices in Ipswich (UK), Mallorca and Newport in the US.

  10. Polina Star III's Keel Loss and Liquidation of Oyster Yachts

    At the end of 2017, Oyster Yachts announced a full order book. The owner of POLINA STAR III, Mr. Alexander V. Ezhkov and his team investigate also in the reasons of the liquidation on their website. "This website was launched on 16 February 2018, following the liquidation announcement of Oyster Yachts.

  11. UPDATE: Oyster Yachts enters administration

    Oyster Yachts, the renowned British sailing yacht manufacturer, has, according to a number of sources, entered into liquidation after announcing a record £80million-plus order book on 10 January 2018. Reportedly, the Southampton-based superyacht builder has informed all staff, some 160 individuals, that they will be losing their jobs.

  12. Buyer confirmed for Oyster: recruitment underway for staff

    The acquisition included the Oyster Group companies Oyster Marine Ltd, Oyster Brokerage Ltd and Southampton Yacht Services Ltd. 05 February 2018 The British luxury yacht builder Oyster Yachts is reported to have gone into liquidation as of 1600 on Monday 5 February 2018.

  13. Oyster Yachts in liquidation

    Problems began to emerge in 2015, when the Polina Star III, one of Oyster's luxury yachts, sank off the coast of Spain in July, leaving a £5.8 million hole in the company's balance sheet. The yacht maker filed a £7.2 million claim against Bridgland Moulders, a subcontractor based in Norwich, which it accused of failing to carry out the ...

  14. Oyster Yachts in Liquidation : r/sailing

    In the past it has depended on how the liquidation is structured. If there's capitol left than maybe it will be distributed among those who have deposits down. Often times that's not the case though, and everything will go to auction. The Gunboat liquidation can probably give you some clues, but that was a US company. Not sure how it goes in ...

  15. Oyster Marine goes into Liquidation

    07 February 2018 Administrators have been appointed to Oyster Marine Holdings Limited, the holding company of Oyster Yachts. The firm, which has its headquarters in Southampton, and also trades from Wherstead in Suffolk, has two employees, and holds the Oyster Group's interest in the intellectual property of the technical drawings and moulds used in the production of the yachts in the Oyster ...

  16. Oyster in liquidation

    According to yachting monthly . Join Now. Photos

  17. Oyster Yachts in liquidation

    Oyster Yachts in liquidation. Thread starter Scott B; Start date Feb 6, 2018; Forums. Forums for All Owners. Ask All Sailors. 1; 2; Next. 1 of 2 Go to page. Go. Next Last. Scott B. Sep 20, 2006 2,912 Hunter 33 Georgian Bay, Ontario, Canada ...

  18. Oyster 825: Enso

    The Oyster 825. A classic, elegant and refined blue water sailing yacht.Offered as a new-build Oyster between 2002 and 2017, the sleek and stylish 825 Deck S...

  19. Oyster Yachts gone into administration

    http://www.yachtingmonthly.com/news/oyster-yachts-gone-liquidation-2-64825

  20. Category:Landwart localities in Moscow Oblast

    Main page; Commonty Yett; Mercat Cross; Recent chynges; Wale page allevolie; Help; Pages for logged out editors learn more

  21. The Unique Burial of a Child of Early Scythian Time at the Cemetery of

    Burial 5 was the most unique, it was found in a coffin made of a larch trunk, with a tightly closed lid. Due to the preservative properties of larch and lack of air access, the coffin contained a well-preserved mummy of a child with an accompanying set of grave goods. The interred individual retained the skin on his face and had a leather ...

  22. Anti-semitic Attitudes of The Mass Public: Estimates and Explanations

    Abstract. In this article we examine anti-Semitism as expressed by a sample of residents of the Moscow Oblast (Soviet Union). Based on a survey conducted in 1920, we begin by describing anti-Jewish prejudice and support for official discrimination against Jews.

  23. Real-time public transport in Moscow and Moscow Oblast ...

    Yandex Maps will help you find your destination even if you don't have the exact address — get a route for taking public transport, driving, or walking.