Bavaria Yachts has confirmed that it is now in self-administration, allowing the management to remain operational as it seeks new financial backing.
The move only affects Bavaria’s operations in Giebelstadt, Germany. Nautitech – Bavaria’s catamaran arm – remains unaffected and trading, delivery and after sales service at its base in Rochefort, France continues as normal.
The shipyard operations will continue seamlessly over the next few months. The delivery season is currently in full swing, so that it will be possible to process a large order backlog over the coming months.
“In the current situation, we will continue to provide our customers with the customary high quality,” says Erik Appel, COO. The existing executive management is being expanded to include Dr. Tobias Brinkmann, a specialist insolvency lawyer and partner in the national law firm Brinkmann & Partner. He has extensive experience of reorganising shipyards.
The previous CEO, Lutz Henkel, left the executive management last week.
The top priority is now to search for an investor. “We have many years of experience building high-quality yachts and are industry leaders in technology in many areas,” says Appel.
Against the background of the good market positioning, the company is seeking to address both strategic as well as financial investors. The procedure is intended to put operations on a sound financial footing.