Urgent talks called for as Russians take over Northamp...

Urgent talks called for as Russians take over Northamptonshire luxury boat firm

26 January 2016

Urgent talks have been called for by Unite, the country’s largest union, with the new owners of Northamptonshire luxury boat builder, formerly known as Fairline Boats, on the future direction of the firm.

While the union has given a cautious welcome to the announcement that two long-term, UK-based Russian investors have taken over the new company Fairline Acquisitions, but it wants to hold talks as to employment levels and business plan.

Unite regional officer Mick Orpin said: “We are currently digesting the implications of what this means for employment and we would like to discuss the business model that the new management team envisages.

“We will be seeking urgent talks with the company as how many of the 374 workers made redundant when the company went into administration in early December will be re-employed.

“The company says that it will be continuing to operate from the Oundle premises, but says nothing about the Corby factory or the testing facility at Ipswich in Suffolk.

“We believe that Fairline Boats is a high-premium brand with a dedicated, long-serving workforce with a viable future. We urge the management to work with Unite to achieve this goal.”

The administrators FRP Advisory kept on 72 employees to service existing contracts. Fairline Boats has been operating in Northamptonshire since 1963.
Unite was highly critical of the previous owner, private equity firm Wessex Bristol which acquired the company from private equity fund Better Capital last autumn.

Unite had called for an inquiry by the Department of Business, Innovation and Skills (BIS) into the workings of private equity firms, after the news that the firm had gone into administration. 


Notes to editors:

For more information please contact Unite senior communications officer Shaun Noble in the Unite press office on 020 3371 2060 or 07768 693940. 

  • Unite is Britain and Ireland’s largest trade union with over 1.4 million members working across all sectors of the economy. The general secretary is Len McCluskey.