Printable version
Email this to a Friend
Seastream in administration after air crash
01 Nov 2004
The death in an air crash in the USA of entrepreneur Christopher Matthews has sent yacht builder Seastream International based at Shamrock Quay, Southampton, into administration, writes Iain Sutherland.
Matthews had pumped nearly £4m into the company, which was building the first of its luxury yachts, a Seastream 650 that is currently being finished in Falmouth.
His death has given the company a cash flow problem.
Peter Whalley of administrators Buchanans indicated that anybody coming up with £1.5m could buy the business and the yacht. Five people are employed in the business.
