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Luxury boat-maker Fairline Yachts has collapsed into administration just weeks after it was bought by new investors.

Alvarez & Marsal has been appointed to look after the day-to-day running of the Oundle, Northamptonshire, business. It said Fairline would continue to trade, with no immediate job losses.

The news comes after private equity firm Hanover Investors sold its stake in Fairline to Arrowbolt, a company that designs and builds electric propulsion systems for recreational boats, in December. Some 100 people were made redundant after the deal was completed, just days before Christmas.

Michael Magnay, joint administrator to Fairline Yachts, said: “The business is continuing to trade as usual.

“We are thankful for the support and understanding of staff and there are no redundancies at this time.

“We are actively pursuing a sale of the business and are confident of a substantial amount of interest given the recognised brand and strong heritage.

“We encourage interested parties to make contact with us.”



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