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Oyster Yachts workers to be offered council support after company stops trading

PUBLISHED: 15:49 07 February 2018 | UPDATED: 20:21 07 February 2018

The Oyster Yachts premises at Hoveton. Picture: DENISE BRADLEY

The Oyster Yachts premises at Hoveton. Picture: DENISE BRADLEY

Copyright: Archant 2018

Staff at troubled boat-builder Oyster Yachts in Hoveton will be offered support by the council as they come to terms with losing their jobs.

The Oyster Yachts premises at Hoveton. Picture: DENISE BRADLEY The Oyster Yachts premises at Hoveton. Picture: DENISE BRADLEY

The company sent staff home on Monday with redundancy notices after claiming it had run out of cash, though it is understood not to be in administration or liquidation. Around 180 staff are understood to work at the Hoveton yard, out of a total workforce of 400.

READ MORE: Oyster Yachts staff ‘sent home after company runs out of cash’

A statement from chief executive David Tydeman said the company was “looking at all opportunities available” after having been unable to secure financial support to continue trading.

North Norfolk District Council leader Tom FitzPatrick said: “North Norfolk District Council is working hard to establish details of the closure of the business and put in place a programme of support for the local workforce affected by the announcement.

“We have made contact with the company and are speaking to a consortium of relevant partners to discuss a support package to mitigate the impact of the news.”

He added the situation was “of great concern” to workers and the wider community.

North Norfolk MP Norman Lamb has already raised concerns at the company’s decision to suspend work despite having boasted less than a month ago of a record £80m-plus order book going into 2018.

READ MORE: MP demands talks with Oyster Yachts owner after staff are given redundancy notice

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