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.
In a prime location, this freehold business opportunity includes a detached, well-equipped bakery factory along with a retail outlet and cafe, all part of a family business with a century of trading history.
Established in key industries like power generation and rail, this company offers specialised electrical and engineering services across the UK and Ireland, boasting strong relationships with blue-chip clients and a reliable income stream.
This well-established company has a decade-long track record in a growing market and is fully relocatable or can be operated remotely, providing flexibility for the new owner.
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