Another superyacht company sinks

Another superyacht company has gone into liquidation as slow conditions affect business.

The shareholders of VaudreyMiller Yachts voted to put the company into liquidation following advice from their accountant that it was insolvent.

The company’s first liquidation report indicates that VaudreyMiller Yachts owes shareholders $2.9million, while the liquidator John Buchanan estimates the company has around $200,000 in assets.

Inland Revenue is the company’s biggest creditor – the department is owed $642,000.

The company described itself on its website as “expert in constructing lightweight epoxy composite structures” and said it specialised in crafting superyachts to tender.

The announcement that VaudreyMiller Yachts has gone into liquidation comes just after superyacht producer Sovereign Yachts faced a similar fate. While boat builder Calibre Boats and Genesis Marine have also gone into liquidation.

Sensation Yachts has also had to battle liquidation proceedings this year although these have since been withdrawn.

But it is not all bad news for the industry – NBR reported in last week’s print edition that Waitakere City Council was just a month off launch sites at its Hobsonville development. The development is aimed at superyacht builders and is hoped will create at 2000 jobs plus those in related industries.

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Gee it was not so many years ago that Jim Anderton was proclaiming the virtues of the super yacht industry. Easy to see why the country is doing so well with quality politicial leadership like that.

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Anon's comment just illustrates why politicians should not be allowed to have any say in business decisions - they have no expertise in business, and causes they bolster seem often to fail

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With a marine industry falling apart worldwide how can WCC claim that the new Hobsonville base will Spur the local Superyacht industry into another 2000 jobs?

Once again politicians who have absolutely no handle on the affairs of the industry.

Surely the government shold be doing something to help the marine businesses in strife as the industry has been hit a hell of a lot harder than most

I am now seeing the workers door knocking daily and most know there is not a hope of finding a position.

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Try a Google search under World Super Yacht awards 2009 certain New Zealand Super Yacht builders are being awarded some pretty enviable international titles.

Those in New Zealands boat building industry who manage to ride out the storm may be in a good place for a revival as a result of the accolades of a few let's hope so as the ndustry supports many other businesses.

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So far as I can see only one NZ yacht designer and no NZ builders were recognised in the 2009 World super yacht awards!

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The world is calling out for more efficient cars and in New Zealand we have experts in Carbon fibre - why not get the Govt to imnvest in a Kiwi car that is green...

Wecan build it from carbon firbe with people from the Yacht industry and power it with effeiecnt plants sourced from the worlds indiutiralised nations .

This is the perfect time to undertake a project opf this nature.....

Lets use the skills we have developed to lead the world in the prodcution of Uber effeicient transport.

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bill lloyd is a crook

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He sure is a crook, owes his workers thousands in unpaid holidays!

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