KPMG has been appointed administrator to Oyster Marine Ltd – in addition to the company’s role as administrator to Oyster Marine Holdings.

Oyster Marine is the primary trading company of the group and operates out of two sites – at Southampton and Wroxham.

Interested parties are being invited to come forward – the administrators are calling for initial offers by March 2.

“There is a lot of interest in the market and we would encourage any more interested parties to make contact as soon as possible,” said joint administrator Neil Gostelow. “We are working with a large number of parties to progress their offers.”

Assets

The administrators are marketing several Oyster Marine assets including the brand name and trademark, technical designs and drawings and associated IT hardware, build manuals, hull and other production mouldings, shares in subsidiary companies and the plant and machinery.

Prior to the appointment, 117 employees were employed at the Saxon Wharf, Southampton site, led by Wayne Huntley.

Manufacture of vessels over 75ft was undertaken on site, which contains six construction bays. The design team was also based on the site.

The Wroxham site contains ten bays and was used primarily for the manufactures vessels under 75ft with 145 employed workers.

Interested parties should contact: Andrew Stone at [email protected].uk or Will Lewis at [email protected].uk

Oyster Leasing, Southampton Yacht Services and Oyster Yachts remain dormant companies. Oyster Palma, Oyster Marine Events and Oyster Brokerage remain trading.

via Boating Business | Administrators appointed to Oyster’s main trading company.