Administrators seek distressed sale of Fairline

Wed, 09 Dec 2015 | ADMINISTRATION

Fairline, the luxury boat builder which entered administration, is being marketed for sale by the administrators FRP Advisory.

Fairline appointed administrators on 2 December after struggling with five different chief executives in the last few years. The company's financial position was also brought under review.

Now the anticipated job cuts and sale of the business are starting to kick in. FRP has said that it will keep 69 staff on a temporary basis in order to liaise with the company's existing clients but some 380 workers will lose their jobs.

The administrators are working to “ensure value can be realised from servicing existing orders”. Joint administrator Alastair Massey added: “The business is being marketed for sale … Fairline is a proud brand and has an array of loyal customers.”

There is a general perception that under the management and leadership the company still has life in it.

Fairline was sold by its private equity owners Better Capital in September 2015. The company sold it to Wessex Bristol, a group of luxury brands, in a deal that valued the business at £13.5 million. Just months later the yachtmaker filed for administration.

Fairline has bases in Corby and Oundle in Northamptonshire and has been producing a top-of-the-range product since the early 1960s.


Read more about Fairline entering administration. Or check out other businesses in administration.


Share this article



Latest Businesses for Sale

Structural Engineering Design Consultancy
South West, UK

Providing designs that are practical but creative and often innovative, to meet the specific needs of its clients. Supporting sustainable construction methods and experienced in eco-friendly structures such as PassivHaus. Offers invited.

Asking Price: Offers Invited
Turnover: £715,000

LEASEHOLD


Technology & Wearables Brand
UK Wide

An established, proven brand and assets for sale, with considerable multi-million pound growth potential. The company is a designer and supplier of an established audio and wearable technology brand. The products seamlessly link three multi-billion-p...

Asking Price: Offers Invited
Turnover: £5,000,000

RELOCATABLE


Air Conditioning & Refrigeration Products Service Provider
UK Wide

Offers a diverse range of commercial refrigeration and air conditioning equipment throughout the UK. Benefits from maintenance contracts and reactive maintenance. Possesses a strong understanding of all types of cooling solutions and is able to fully...

Asking Price: Offers Invited
Turnover: £6,400,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Nov
 

UK government set to approve Cobham takeover | BUSINESS SALE

The British government is poised to approve the $5 billion t...

 
18
 
Nov
 

Kitwave acquires Alpine Fine Foods | BUSINESS SALE

Independent wholesaler Kitwave has acquired Alpine Fine Food...

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
30
 
Oct
 

Building contractor Simons goes into administration | ADMINISTRATION

Lincoln-based building contractor Simons Group has announced...

 
22
 
Aug
 

Welsh technology firm plunges into administration | ADMINISTRATION

Thought to be one of the country’s leading ICT supplie...

 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources