Fairline Yachts Limited (09937735): administration
- Status
- In administration
- Administration began
- 2025-01-24
- Administrators
- Michael John Magnay, John Noon
- Administrators' firm
- Alvarez & Marsal
- Formerly
- Fairline Acquisitions Limited
- Incorporated
- 2016-01-06
- Location
- Brighton
- Industry
- 30120 Building of pleasure and sporting boats
Why it went into administration
- Sustained trading losses
- Cash flow / liquidity pressure
- Loss-making contracts / project overruns
- Credit insurance / supplier credit withdrawn
From the administrators' statement
The Fairline business was originally founded in 1967 and now operates as a designer and manufacturer of luxury motor yachts, which are distributed to customers via a worldwide network of third-party dealers.
The majority of the boats were built to order under fixed price contracts, agreed up to two years in advance. Scheduled deposits were paid by the dealers at certain production milestones, with a large final payment on completion.
Given the timing of payments, the Company entered into a stock financing facility with DF Capital to fund its working capital.
Administrators' statement of proposals (2025-04-22) · Companies House register