Mon, 04 Apr 2011 | ADMINISTRATION
WestWays of Plymouth Ltd, the Devon-based prestige boat dealership has filed for administration following the loss of a major brand contract.
The family-run business entered administration last Friday, after the French yacht manufacturer, Jeanneau, opted not to continue vending its vessels through the company, which sold a wide selection of boats from its offices and yard in the port city's Queen Anne's Battery.
Chartered accountants Grant Thornton have been called in to take care of the administration process, with Nigel Morrison and Trevor O’Sullivan being appointed as joint administrators.
Mr Morrison said that they had retained two of the ten-employee staff as they worked through the process, and that they were realistically looking at all options.
"Unfortunately, due to the loss of the Jeanneau contract there is a limited prospect of a sale of the business, although we understand Jeanneau is in discussions with another party to operate a dealership in Plymouth," he explained.
As well as Jeanneau vessels, the company also sells a range of other brand sail and power boats, both first- and second-hand. Prior to Jeanneau's withdrawal the company had been experiencing a run of good fortune, including staging the first boar show inside the Drake Circus mall last August.
This is an opportunity to acquire the shares, business and/or assets of an electrophoretic and powder coating specialist located within the North East of England. Indicative proposals, supported by proof of funding, are accepted by no later than 4pm...
This unique holiday accommodation business offers distinctive, design-led stays on over 15 acres of private land, complete with exceptional amenities and a residential property. With a strong occupancy rate of over 90% and excellent guest reviews, it...
FREEHOLD
This exceptional opportunity allows you to acquire a leading UK business in pneumatic tube systems for healthcare, boasting exclusive distribution rights and strong client retention through multi-year service agreements.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.