# Fairline Yachts Limited (09937735)

> Why UK company 09937735 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09937735

- **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- Credit insurance / supplier credit withdrawn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.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09937735/filing-history/MzQ2MjEzMjU5MmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09937735

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.