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Administrators appointed to Oyster Marine Holdings Limited

Oyster Marine Holdings Limited administrators appointed

Neil Gostelow and Mark Orton from KPMG Restructuring have been appointed joint administrators to Oyster Marine Holdings Limited, the holding company for the Oyster Yacht group of luxury boat builders.

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Headquartered in Southampton, the company also trades from Wherstead in Suffolk and has two employees. The company’s main trading business, Oyster Yachts, is currently considering its options after failing to secure sufficient funding to be able to continue to trade. No other companies within the group form part of this particular administration.

Oyster Marine Holdings holds the Oyster Group’s interest in the intellectual property of the technical drawings and moulds used in the production of the yachts in the Oyster range.

Neil Gostelow, partner at KPMG and joint administrator, commented: “Late last week, the company directors confirmed that they had been unable to secure the financial support they needed to continue to trade the business. Our immediate priority will be to seek a buyer for the business and its assets and would encourage any interested parties to contact us as soon as possible.”

Interested parties are advised to contact William Lewis who is part of the Administration team on 07771 555540 or william.lewis@kpmg.co.uk

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Notes to editors:
For media enquiries, please contact:

Katy Broomhead, Senior PR Manager, KPMG
T : 0161 246 4623
M : 07824 537963
E : katy.broomhead@kpmg.co.uk

Helen Jackson, Corporate communications, KPMG in the South
T : 01118 373 1479
M : 0790 111 5649
E : helen.jackson@kpmg.co.uk

KPMG Press Office: 020 7694 8773

About KPMG in the UK
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff. The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

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