Resumption of deliveries
Bavaria Yachts entered under the protection of the German Insolvency Act on 20 April 2018 and provides the first information on its activity. The German shipyard, a heavyweight in the world of yachting, announces that it has resumed stable production. Regular deliveries have restarted. In 2 weeks, 30 boats left the Bavaria shipyard in Giebelstadt to be entrusted to dealers and boaters.
Maintenance of employment and agreement with suppliers
Bavaria Shipyard also indicates that all 600 employees are still employed. An agreement has been signed between Bavaria Yachtbau and its main suppliers to guarantee delivery of future orders and prompt payment of invoices.
An investor for July 2018
In parallel with the maintenance of the industrial activity, the new management of Bavaria Yachts started the search for solutions to finance the company. Tobias Brinkmann, the new restructuring expert appointed to the Executive Board, sets the framework for finding an investor by July 2018. "We continue the activity and we intend to start the next ordering season with a new investor. We have already received initial expressions of interest and are also actively discussing with potential investors." Bavaria Yachts has joined the services of One Square Advisors in its search for investors.