Slovenian marine firm Seaway has filed an insolvency petition, according to local reports, putting the future of the Greenline Yachts range in jeopardy

The future of Greenline Yachts is in doubt after local media reports in Slovenia claimed that parent company Seaway has filed an insolvency petition

The financial crisis hit Seaway particularly hard, with a 70% drop in yacht sales since 2008. The firm recently sold its newly built shipyard in Monfalcone, Italy.

Founders Japec and Jernej Jakopin told local newspaper Gorenjski Glas: “Despite the fact that the company had a significant portfolio of orders, we were not able to ensure the necessary financial backing, and the weakened company lost the confidence of its customers.”

Born of the J&J Design Studio in 1983, Seaway has worked on 270 models over the past 32 years, ranging from Fairline and Jeanneau to Bavaria and Sea Ray. In total, more than 65,000 yachts have been built from Seaway designs.

Greenline Yachts history

In 2010, Seaway launched its own boating brand, Greenline Yachts, which claimed to be “the first true hybrid yacht”.

Over the past five years, the range went on to spawn 33ft, 40ft and 48ft models. Many of these were imported into the UK by brokerage firms Sunbird International, Boat Sales International and Inspiration Marine.

Peter Thomas from Inspiration Marine told MBY: “We are aware that they have had difficulties, but we haven’t had any confirmation that they’ve gone into administration.

“Any Greenline Yachts we’ve got on order we have cancelled and returned the deposit to the customer, because we are unable to get delivery dates out of them at the moment. The signs haven’t been good for a while.”