The German boat builder Bavaria Yachts declared bankruptcy several weeks ago and stopped delivering boats to their dealers. This week the company announced that it was moving out of bankruptcy and had started delivering boats once again. See the full report with good background in the British magazine Yachting Monthly.
Bavaria Yachts has announced it is in the process of securing new investment and hopes to make an announcement in July. The German yacht builder is continuing to take orders and deliver new boats.
‘Production has been stabilised and deliveries are continuing: more than 30 yachts have left the shipyard over the past two weeks and have been handed over to customers,’ said Bavaria in a statement.
‘All 600 employees are on duty, and agreements were reached with all major suppliers for further delivery against short payment terms,’ it added.
Bavaria went into self-administration last month. This allowed the firm’s management to remain operational while new investors are sought. Read more.
