Skip to main content

Buyer sought for Fairline Boats

Joint administrators appointed to Fairline Boats Ltd. are seeking to sell the business while keeping a core staff to serve current customers.

Joint administrators appointed to Fairline Boats Ltd. are seeking to sell the business while keeping a core staff to serve current customers.

Geoff Rowley and Alastair Massey of FRP Advisory were named joint administrators for Fairline. The British luxury motoryacht manufacturer went into administration, the U.K. financial circumstance analogous to Chapter 11 bankruptcy protection in the United States, last week.

After a detailed assessment of the business and the company’s financial position, the administrators retained 69 staff to help trade the business, service existing orders and communicate with customers, suppliers and boat dealers while engaging with interested parties as part of the process of marketing the business and assets for sale, according to a statement.

The majority of the retained staff are at the company’s premises in Corby and Oundle, Northamptonshire, where it designs and manufactures a range of luxury boats; a handful of staff remain to continue operations at a testing location in Ipswich, Suffolk.

Before it entered administration, Fairline employed about 450 staff across its operations. The vast majority were divided between its Oundle and Corby factory sites.

FRP said the joint administrators continue to communicate with staff trade unions and their representatives and are assisting staff members who have been made redundant with the necessary support to submit timely claims to the Redundancy Payments Service.

Although work continues to service a number of orders across the business, the joint administrators remain focused on marketing the business for sale.



Clearing the Waterways

In Florida, in the aftermath of Hurricane Ian, it was estimated that there were 6,000 derelict boats in southwest part of the state. In most cases, boat owners don’t know resources are available to remove them because until recently there weren’t many.


A Window on the World

Inflation, supply-chain kinks and the continuing war in Ukraine continue to be serious concerns, but numerous companies with a global presence for exports are reporting optimism at the start of 2023.


BRP Announces Mexico Production Facility

The $165 million plant will open in early 2025 in Chihuahua and create up to 1,300 jobs while bolstering production capabilities.


C.G. Foundation Announces Scholarships

The program each year awards more than $500,000 to qualifying children of active duty, active duty reserve and retired Coast Guard members.


Propspeed Expands U.S. Sales Team

Josh McGuire and Cole Barone were named regional sales managers for the Northeast and West Coast.


Newport Boat Show Had $26.1M Impact

The September show drew more than 40,000 attendees last year, with boat sales estimated at $35 million to $40 million.


Consumers Feel a Bit Better

A key measure of U.S. consumer confidence rose in December as the economy added 223,000 jobs, the smallest gain in two years. The Conference Board reported that its Consumer Confidence Index rose to 108.3 from 101.4 in November.


How the ABYC Creates Standards

Standards are a full-time mission for the ABYC that goes beyond simply putting out a new supplement every July. As an organization built on a tradition of common-sense and real-world experiences, the ABYC works on standards development year-round with its Project Technical Committees.


Year Three of Five

Fear of an impending exodus, especially with concerns about a looming economic recession, has leaders at the MRAA, the National Marine Manufacturers Association and the Recreational Boating & Fishing Foundation urging the industry to start focusing immediately on improving customer service as the primary way to retain these boaters.