Fairline Yachts - Administration

Fairline Yachts, a Oundle, Northamptonshire-based luxury yacht manufacturer which was founded in 1967, entered administration on 24 January, just over a month after it was acquired by Arrowbolt Propulsion Systems.

Michael Magnay and John Noon of Alvarez & Marsal were appointed joint administrators and said that the company would continue to trade as normal with no immediate redundancies, although more than 100 employees were made redundant following the sale to Arrowbolt.

The joint administrators are actively pursuing a sale of the business.

Df Capital Bank Limited and Barclays Bank PLC have registered charges against the company.