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16 May, 2018 - 12:53 By Tony Quested

Oyster Yachts turns the tide

Oyster Yachts in Norfolk has slipped free from the rocks of administration and set sail for a prosperous future with new contracts and a strengthened workforce.

Manufacturing has resumed at its yard in Wroxham under new ownership, 50 skilled yacht builders – all former employees – have initially been hired with more in prospect and two contracts for new craft have been signed with more imminent.

The bounceback has been engineered by new owner Richard Hadida who reveals that the team has just begun work on an Oyster 675 yacht, one of the world-renowned  brand’s flagship vessels. 

It will be 67 feet long and is the first of two yachts Oyster currently has contracts for, with several more orders expected to be signed in the coming weeks as the company seeks to complete projects which had been paused during the administration process.

Just three months after the business was put into administration, 50 skilled yacht builders have been hired, all of whom have previously worked for Oyster and share the heritage. 

Oyster will continue to scale up its hiring push as more order contracts are signed, and expects to make further announcements shortly.

Hadida said: “It brings me real pleasure to announce that the production of Oyster yachts has recommenced in Wroxham. Whilst we are moving into a new chapter for the business, we always knew that staying true to the  company’s roots was vital. 

“I am incredibly proud that we have been able to hire previous employees of the business, as it is their expertise and craftmanship which will ensure we maintain the mark of quality Oyster yachts are known for. 

“As both CEO and a member of the Oyster family, I am thrilled that we can now begin to fulfil existing client orders interrupted by the administration process as well as look to the future with genuine confidence as we accept new contracts and return to full-scale production.”

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