Macsco 30 Limited (07632155): administration
- Status
- Administration ended
- Administration began
- 2015-12-02
- Administrators
- Geoffrey Paul Rowley, Alastair Massey
- Administrators' firm
- FRP Advisory
- Incorporated
- 2011-05-12
- Location
- London
- Industry
- 70100 Activities of head offices
Why it went into administration
- Funding withdrawn / unable to refinance
- Competition / price pressure
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
Fairline Boats Limited (“Fairline”) manufactured luxury motor yachts in the range of 38 to 78 feet in two locations in Northamptonshire and operated a sea testing facility in Ipswich for their larger vessels
Over the four years ended 31 December 2011, Fairline incurred trading lasses of approximately £40m with a similar cash outflow over that period
The Fairline Group of companies was purchased from private equity firm, 31, by Macsco 30 Limited ("M30") (a joint venture between BECAP Fairline Boats Limited (’BECAP”) and West Register (Investments) Limited, a Royal Bank of Scotland (“RBS”) investment vehicle) on 13 July 2011.
Administrators' statement of proposals (2016-01-29) · Companies House register