Standstill at Oyster

David Tydeman, CEO of the shipyard with headquarters in Southampton and two other shipyard sites in England, announced on the company's website: "We deeply regret that the company has not been able to secure the financial support to continue trading at this time. We are exploring all available options." This probably means that the Dutch private equity company HTP Investments, owner of Oyster Yachts, will not be providing the shipyard with any further funding. According to an online report by the BBC, 400 jobs are on the line. The news was greeted with dismay in the yachting world. The new Oyster 745, the largest sailing yacht at the trade fair, was presented at boot. In Düsseldorf, Tydeman, who describes his brand as the "Land Rover" of yachts, told BOOTE EXCLUSIV that the new 118-foot flagship would be completed in June.