British boatbuilder placed into administration
After a bumpy ride with owners and dealers alike, boatbuilder Sealine went into administration on Tuesday.
A source at Sealine’s Kiddiminster factory told MBM that no boats were in build, and that deposits taken for new boat orders would be returned to customers. However, this last point still needs to be confirmed by the administrator.
Frank Shepherd of administrators Baker Tilly Restructuring and recovery LLP, said, “We are inviting offers for parts of or the whole of the business and we hope to contact employees as soon as possible but regret that significant redundancies are likely.”
Established in 1972 by Tom Murrant, Sealine became one of the so-called ‘Big Four’ British yards following strong growth throughout the 1990s. It enjoyed recent success with the SC35/S380 sportscruiser, and was due to launch a flybridge version, the F380, this summer.
With rumours of a German buyer continuing to circulate, any parties interested in purchasing the assets of the business should contact Chris Cooke of Baker Tilly on 01908 687800.
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