Some staff at luxury yacht builder Fairline Boats have been laid off for a month.
It was announced two days ago that the boat manufacturer been acquired by luxury brand operator Wessex Bristol for an undisclosed sum from Better Capital PPC, who had owned the firm for four years.
Now the company’s new chief executive, Ayiaz Ahmed, has said that some staff will have to be laid off for four weeks while the owners tackle short-term problems.
He said: “To address the immediate short-term issues, we have made the regrettable yet unavoidable decision to instigate a temporary layoff of a number of staff for a period of four weeks as we continue to assess the business.
“This is no way an indication of the long term vision for Fairline but an unfortunate unintended consequence of the current business climate.”
It’s believed that at least 100 members of staff have been temporarily laid-off.
Mr Ahmed added: “The leadership team here at Fairline and the Wessex Bristol family are firmly and wholeheartedly committed to the long term success of the business and very much look forward to building a secure and exciting future for this great British brand.
“We will share with our loyal customers, employees, suppliers and supporters the future development plans for Fairline in due course.
He continued: “Wessex Bristol is delighted with the acquisition of Fairline and we look forward to building a prosperous, long term future together.
“I have been overwhelmed at the wave of support and encouragement received from colleagues, the media and the broader business community.
“My first priority now as chief executive is to examine all aspects relating to the short and long term strategy of this famous British boat manufacturer.
“The Targa 53GT was launched at the 2015 Southampton Boat Show where it received excellent reviews.
“This along with the recent acquisition makes for a very exciting time at Fairline.”
Fairline Boats acquired by Wessex Bristol
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