Bavaria delivers 30 yachts in two weeks

Bavaria has restarted yacht deliveries after entering voluntary administration Bavaria has restarted yacht deliveries after entering voluntary administration
Industry Database

Production has stabilised at Bavaria Yachts and deliveries have resumed.

Over the last two weeks, more than 30 yachts have left the boatbuilder and handed over to customers said the company in a statement.

Bavaria Yachts went into administration a month ago after facing financial difficulties. Now managers and administrators have started an investor process in order to safeguard the company’s future.

“We are continuing business and we intend to go into the coming order season with a new investor,” explained Dr Tobias Brinkmann of Brinkmann & Partners, who has been appointed to the Bavaria Yachts board as a restructuring expert as part of the self-administration process.

“We have already received initial expressions of interest and we are also actively talking to potential investors.”

The boatbuilder says it hopes to have an investor in place by July – it previously stated employee wages and salaries will be paid by insolvency compensation until the end of June.

All 600 employees have been kept on and Bavaria says agreements have been reached with key suppliers about further deliveries with short payment agreements.

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