Troubled Riviera lays off 150 - Trade Only Today

Troubled Riviera lays off 150

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Australia's Riviera Yachts has laid off about 150 employees at its Coomera-based manufacturing plant, according to a report in Gold Coast Publications.

The company has reportedly laid off about 400 people since last August.

Riviera is in voluntary receivership. The receivers and managers are looking to preserve the long-term viability of the company, restructure the business and sell it as a going concern, Riviera said in a recent statement.

Riviera, Australia's largest luxury-boat builder, manufactures open and closed flybridge yachts, offshore express models and sportyachts from 33 to 70 feet.

Click here to read the report.

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