Discovery names liquidators

Directors of UK boatbuilder Discovery Shipyard have nominated Neil Gostelow and Stephen Absolom of Interpath Advisory as joint liquidators, according to reports.

Creditors have been made aware of the step and it is anticipated the shipyard will be placed into voluntary liquidation likely this week.

According to records held with Companies House, Discovery’s managing director John Burnie and financial director David Winduss resigned from their roles on 6 January 2022. It is believed all other employees have been made redundant.

In December 2021, MIN reported that the boatyard’s owner, Werner Schnaebele would be withdrawing support for the business. In a post on LinkedIn in December 2021, Discovery Shipyard said the owner would “not be providing further investment or funds”.

Werner Schaebele and his investment vehicle Binti Marine Holdings Ltd became the sole owner of Discovery Shipyard in December 2019.

In January 2021, at a time when the shipyard was employing 80 staff and eight apprentices, Schaebele invested an additional £2m in the yacht building business. The funds had been raised to use on capital expenditure as well as new project development.