Multiple bids submitted for luxury Northamptonshire boatbuilder as Fairline Yachts look for a buyer

The Oundle-based boatbuilder appears to have been saved from closure after a funding deal allowed its 250 employees to keep their jobs after a new deal to finance the troubled company.

Joint administrators of Fairline Yachts Limited had secured funding for the business provided by its existing specialist lender DF Capital and have been seeking a buyer to take the brand forward.

This newspaper has learned that multiple bids have been submitted and are being considered by administrators Alvarez & Marsal Europe LLP.

Last month in a statement, Michael Magnay, joint administrator to Fairline Yachts, said he expected that the company could have broad appeal ‘to international investors as well as domestic’.

He said: “Fairline Yachts is an iconic brand with a committed and passionate team of experts who have established deep relationships with dealers and end customers over many years.

"The business is known throughout the world for the quality of its craftsmanship and the innovative design of its yachts.”

Founded in 1967, Fairline Yachts has built a reputation for crafting ‘best-in-class’ yachts for its customers.

In December 2015, the firm went into administration in December putting 450 jobs under threat. The following year in June 2016, Fairline’s Corby base closed.

As the company looked to build back, in 2020, Covid-19 hit production with 340 employees eventually being furloughed.

The company has four yacht ranges, from 33 ft to 68 ft models, sold globally both directly and via local dealerships.