Displaying items by tag: Liquidation
Forty-six jobs have been lost with the end of trading at the boatbuilder, which moved its core business to Hythe in Hampshire from Lymington and Southampton in recent years in order to take on multiple projects.
A slowdown in large yacht orders has been blamed for the decision to enter voluntary liquidation — though a Scuttlebutt Europe reader alleges manoeuvres at the builder’s Dutch owners Vitters undermined its ability to prosper.
Green Marine build more than 180 boats since it was founded in 1982, specialising in custom racing yachts such as those competing in the Volvo Ocean Race, the Vendée Globe, and Sir Ben Ainslie’s recent America’s Cup challenge.
BBC News has more on the story HERE.
As previously reported on Afloat.ie, the operator had been in examinership since last November, and a restructured business plan had been submitted with a view to resuming high-season service in April.
However, in a statement the owners of the Fastnet Line said they had been unable to raise the €1m-plus investment required and that the examinership had "failed".
All 78 jobs will be lost as the company is set to be placed in receivership or liquidation later today.
The Fastnet Line - which was worth around €30 million to Cork in tourist spending - made its maiden voyage from Swansea to Cork in 2010, and was the only direct passenger and freight link between Wales and the south coast of Ireland.
The Irish Times has more on the story HERE.
Fancy a pre-season boat bargain? It may well be on offer later this month at a 'liquidation sale of boats' due to take place in County Cork with a selection of unused and used power boats. The sale is by order of Mr. Barry Donohue, KPMG, Liquidator, HM Yachts Ltd (In Voluntary Liquidation).
The boats on offer include three unused Jeanneau motoboats inlcuding the popular Merry Fisher Legend. The vessel comes with Suzuki 50HP Four Stroke Engine and road trailer, ready for the season!
The sale will take place at 12 noon on Tuesday 29 March 2011. Viewing is from 10am - 4pm Monday 28 March 2011 or by appointment. The sale takes place at the Michael Murphy Yard, Mission Hill, Kinsale, Co. Cork. (Across from Bandon Co-Op)
For sale: The Merry Fisher Legenda 585 Motor Boat
There are ten lots (including a van) but for the boats for sale include:
Unused Jeanneau Cap Camarat 715wa Motor Boat with a Hallmark Double Axle Trailer with Winch and Rollers, White / Blue.
Unused Jeanneau Cap Camarat 515 Style Motor Boat with a Suzuki 50HP Four Stroke Engine, Model DF50, Plus a Hallmark Single Axle Trailer with Winch and Rollers, White / Beige.
Unused Jeanneau Merry Fisher Legenda 585 Motor Boat with Enclosed Cabin with an Indspension Roller Coaster Single Axel Trailer with Winch and Rollers, White / Blue.
2006 Maxum 2400 SC3 26ft Motor Boat with 300Hp Petrol Inboard Engine with Double Axle Trailer, White / Blue.
2005 O'Sullivans Marine 710 23ft Fishing Boat with Cabin, Yanmar 27hp Diesel Inboard Engine, White / Blue, Name Mary-Linda.
For further details, please contact E-Auctions T: +353 45 883 554. More HERE.