German Superyacht Yard Files for Bankruptcy

Author:
Publish date:
1_Nobiskrug_Sailing_Yacht_A

Nobiskrug, the German shipyard founded in 1905, has filed for bankruptcy protection, German news outlet Norddeutscher Rundfunk reported.

The superyacht yard made headlines when it launched Sailing Yacht A in 2017. At 468 feet, she is the world’s largest sailing yacht, and her three, 300-foot masts are the tallest, most highly loaded freestanding composite structures.

Norddeutscher Rundfunk said the company has had issues from previous management decisions and the Covid-19 pandemic; it announced layoffs for 120 employees last year, or 30 percent of its workforce.

According to Nobiskrug, the shipbuilding group Privinvest had made investments of almost

EUR180 million ($215 million) in the last several years without a return. Nobiskrug provided no further information.

Economics Minister Bernd Buchholz was hopeful that the company can continue after bankruptcy proceedings commence.

“There are still various possibilities that can create prospects for the workforce and also for the company itself,” Buchholz told Norddeutscher Rundfunk.

Related

MRAA Board Contributes to BoatPAC

Every board member contributed to the non-partisan political action committee, which works with congressional members who recognize the importance of boating.

Educator Training Conference Agenda Announced

The ABYC Foundation’s virtual conference is scheduled for July 20-22, with speakers covering a host of topics around creating the future workforce.

RIMTA Awarded $30K Grant

The financial support will go toward its fiberglass boat recycling pilot project.

Sandy Hook Yacht Sales adds Intrepid

The dealership and brokerage firm has six locations in New Jersey and Florida.

Everglades Expands Executive Team

The Edgewater, Fla.-based manufacturer adds positions in finance, sales and marketing and operations.

Heed Caution While Refueling

Ethanol can be back in a big way, and insufficent labeling at the pumps could lead to problems for your marine powerplant. And the MRAA’s voices support for the 30 by 30 initaitive.

Training the Next Generation

Crest Pontoons will donate a complete boat and trailer to a local high school’s raffle to raise money for its vocational programs.

An “Above Average” Hurricane Season

BoatUS wants to help boaters get ready for the 2021 Atlantic hurricane season, which begins June 1.