Luxury yacht builders cut-back

IT IS not just the inland waterways boat builders that are feeling the pinch, but luxury sea going yacht builders too.

The luxury yacht builder Fairline Boats, that has factories in Oundle and Corby has announced that 75 people are being made redundant, Alan Tilbury reveals.

Consultation

This was announced this week, with a four weeks period of consultation between management and the staff beginning. Yet this comes after the 43 years old company was bought by  Better Capital and the Royal Bank of Scotland.

Derek Carter, Chief Executive of Fairline, warned that the company was predicting little growth  over the next three years, and as a result it needed to find significant efficiency improvements and cost reductions to restore its profitability.

Since 2008  the business downscaled by 40 per cent, after 13 years of growth.