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Since its creation, NEEL Trimarans has established itself as a benchmark in the world of ocean-going multihulls. On December 5, 2025, the La Rochelle Commercial Court announced that the company would be placed under receivership, marking a turning point for the La Rochelle-based shipyard.
Several unpaid bills
The self-financing of units not paid for by an American customer weakened the yard's financial equilibrium. In this case, NEEL Trimarans chose to self-finance the production of several units, without advance payment. This mechanism, common in certain high value-added projects, entails a major risk when the customer defaults. The non-payment of several units severely impacted the company's cash position, despite efforts to maintain a stable budget.
A shrinking market
Also in the United States, the slowdown in demand is hitting the industry hard. French shipyards exporting to North America are facing a shrinking market, due to inflation, rising credit rates and changing expectations among yachtsmen. NEEL Trimarans, which generates a significant proportion of its sales internationally, is no exception to this trend. The impact is all the greater when this unfavorable situation is combined with a payment incident.
Continuation plan under negotiation
The aim of receivership is to enable a company to resume trading without immediate liquidation. The objective is clear: to maintain employment, secure industrial activity and restore the confidence of financial partners. NEEL Trimarans is currently working on a recovery plan in conjunction with its creditors. According to management, discussions are underway with technical and financial players to avoid a definitive cessation of activity.
Two brands, one know-how, but the need to adapt to the market
With more than 210 units sailing today, the NEEL and LEEN brands represent a dynamic niche in the world of large-scale sail and motor cruising. The future will depend on our ability to reorganize financial flows, secure orders, and adapt our offering to a fast-changing market. The challenge is commercial, industrial and strategic.
