Administrators appointed to B.A. Peters Plc

14 August 2007

Jane Moriarty and Myles Halley of KPMG LLP have been appointed joint administrators of B.A. Peters PLC. Headquartered in Chichester, the company is one of the UK’s largest luxury boat dealerships operating from six marinas in the UK and four marinas in Spain. The company is also one of the UK’s largest approved service agents for the key suppliers of Volvo Marine and Raymarine.

The business currently has licence agreements with Azimut, Bavaria, Legend, Rodman and Island Packet for the sale of luxury yachts. Other operations include a Shipyard at Chichester which undertakes warranty work for the Company’s key boat manufacturers.

Jane Moriarty, partner KPMG Restructuring and joint administrator said: “Due to difficult trading conditions the company has experienced extreme cash flow problems. Although the business continues to trade, we have unfortunately had to make 130 members of staff redundant.”

The administrators are currently reviewing the financial position of the company and are actively seeking a buyer for the business.

B A Peters Plc employed 180 people based mainly at Chichester and had a turnover of around £82m for 16 months ended Dec 2006. UK leasehold sales sites are Chichester, Ipswich, Eastbourne, Gosport, Swanwick, Brixham, and Inverkip; Spanish sales sites are Mallorca (Cala d’Or), Sotogrande, and Denia.