Oyster Yachts, a boat builder based in Southampton, UK, has gone into liquidation as of Feb. 5, according to a statement from company CEO David Tydeman.
Information from the company website has been replaced with a statement that reads, “It is with sincere regret that we advise that the company has been unable to secure financial support to enable it to continue at this time, and it is looking at all opportunities available. Further information will be issued as soon as we can.”
The company introduced the new Oyster 675 at the Düsseldorf boat show last year.
Online media sources report 400 job losses for the company overall. The company built yachts from 47 to 118 feet in length; larger yachts have been built in Southampton and smaller boats in Hoveton, Norwich, UK. Other affected company offices include the Oyster Service Centre in Palma, which opened in 2015, and offices in both Ipswich and Southampton in the UK, and in Newport, Rhode Island.