Oyster Marine deadline set

Nauticexpo

After failing to get the financial support necessary to continue to trade, Oyster Marine Holdings, the Oyster Yachts Holding company, went into administration on February 7.

Working with KPMG Restructuring, the objective now is to find a buyer as quickly as possible. Moving things on quickly, KPMG has set a deadline for expressions of interest in buying the assets of the brand this coming Friday, March 2nd.

Neil Gostelow and Mark Orton from KPMG Restructuring have been appointed joint administrators to Oyster Marine Holdings Limited. After failing to secure enough funding to continue trading, Oyster Yachts, is now considering its options.

MIN understands the Intellectual Property to all the technical drawings and moulds used in the production of the Oyster range is held by Oyster Marine Holdings.

However, Oyster owners are a hardy bunch and will gather round the remnants of the business and attempt to push it forward once again.

David Tydeman, the Oyster Group CEO, insisted there are many wealthy Oyster owners out there, some of whom  made a bid on the company in 2012 when HTP Investments bought control. He went on to outline a rush of orders in the second half of 2017 had resulted in the record order book of £83m with work stretching to 2019 and 2010.

However, it seems unlikely there will be an Oyster presence at the upcoming Miami International Boat Show.

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