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Oyster Yachts history
Oyster Yachts company history timeline
In 1973 Richard Matthews founded Oyster Marine and commissioned the 32 ft prototype three quarter tonner sailing yacht UFO II, designed by British Naval Architects Holman and Pye.
She proved to be a success, with UFO winning the Royal Yacht Squadron's de Maas Cup at Cowes in 1974 alongside many other races.
In 1978 Oyster Marine introduced a 46 ft cruising ketch designed by Holman & Pye, pioneering the Deck Saloon feature that has since become the company's trademark.
Following the successful launch of several new models the company closed the end of 2017 with a record orderbook of £83m but with some cash flow issues.
The Dutch shareholders made a sudden decision in January 2018 to withdraw their support and the directors had no alternative but to appoint Administrators.
KPMG was appointed as administrator to Oyster Marine Holdings (the holding company for Oyster Yachts) on 7 February 2018, and tried to find a new buyer for the business.
On 20 March 2018, gaming software entrepreneur Richard Hadida was announced as the new owner.
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