Nord West group goes into administration

Swedish builder Nord West looks for new investors

Swedish yard Nord West went into administration on Tuesday 26 February. Staff were said to be shocked by the development, brought on by a lack of liquidity following the acquisition of the Najad sailboat brand in 2012. The strength of the Swedish Krona has also hurt the business’s export levels.

The administrator brought in is said to be hopeful of finding new investors, and of keeping both brands within the business. Current boat production will be maintained, and orders fulfilled, however the workforce will be downsized.
Nord West sales manager, Johan Stubner, is confident that both Nord West and Najad will survive. He told MBM, “We have had strong sales in the used and new boat sectors. The administrator understands the business very well and I am hopeful that new investors will be found.”