Fairline Yachts employs 250 people and operates from Oundle in Norfolk where the boats are made and a test and commissioning facility at Ipswich Marina.
The workers include “highly skilled craftsmen with deep experience in the industry”, said the firm’s administrators at Alvarez & Marsal.
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Administrators have launched a sale process for what they describe as “an iconic UK luxury yacht-builder”.
They have secured funding with UK bank DF Capital to enable production to continue at the company while a buyer is sought and are encouraging interest from international as well as domestic investors.
“The additional funding, provided by its existing specialist lender DF Capital, will enable the business to continue the production and sale of its yachts for customers worldwide and retain its 250 employees,” they said in a statement issued on February 11.
The company – founded in 1967 – has built a reputation for crafting best-in-class yachts for its customers, with whom it has established long-term relationships.
It builds four yacht models ranging in size from 33 ft to 68 ft and these are sold globally.
The administrators said they are encouraging any interested parties to contact them to discuss the opportunity to acquire one of the yacht industry’s most recognisable brands.
Joint administrator Michael Magnay said: “Fairline Yachts is an iconic brand with a committed and passionate team of experts who have established deep relationships with dealers and end customers over many years.
“The business is known throughout the world for the quality of its craftsmanship and the innovative design of its yachts.
“We expect that it could have broad appeal, to international investors as well as domestic.
“We encourage interested parties to make contact with us to discuss the opportunity to acquire this exciting business.”
In 2016, the business’s assets were bought out of a previous administration by Russian investors.
Anyone interested can contact Gquinn@alvarezandmarsal.com.
