It was reported yesterday afternoon that Oyster Yachts have gone into liquidation.

The news has come as a shock to many. It was only earlier this year that Oyster Yachts launched their award-winning model, the Oyster 745 at boot Düsseldorf. The company also recently announced the sale of their 23rd Oyster 625 to a Californian client.

We reported on the 22nd of January ‘Oyster Closes 2017 with a Record Order Book’ when Oyster CEO, David Tydeman said “We also have the very first Oyster 118 Superyacht, nearing completion in the UK at our Southampton facility and due to start sailing trials in June 2018.”

Sources say roughly 160 staff members will be made redundant.

It’s rumoured that HTP Investments, one of Oyster’s main investors, has withdrawn their financial support for the company.

Industry sources believe that Oyster Yachts may have also lost money as a result of the structural problems identified after the Polina Star III sank off the coast of Spain in 2015 due to losing her keel.

The company is expected to make a statement later today.