28 jobs keps afloat at boatyard

2:42am Wednesday 12th September 2007

Twenty-eight jobs have been safeguarded after buyers were found for a luxury boat dealership that had run aground.

BA Peters, the Chichester Marina-based company which sold luxury motor boats around the world, ran into trouble when it lost a number of important contracts, and 130 jobs out of a workforce of 180 had to go.

Administrators KPMG were brought in to try to rescue the company and 28 Chichester-based jobs out of the 50 remaining posts have been saved.

After failing to find a buyer for the whole group, KPMG had to sell off different parts of the company, which included a "port to port" business, boat storage and the dealerships.

Joint administrator Jane Moriarty said: "Every effort was made to try and find one buyer for the whole business.

"However, despite extensive marketing no appropriate offers were forthcoming.

"We have completed on offers that we believe ensure the best deal for creditors. We continue to work on a number of other deals and hope to be able to finalise them shortly."

Boat dealerships in Chichester, Brixham and Swanwick have been sold to a newly formed company called Opal Marine Ltd, saving 26 jobs.

Another two jobs have been saved because BA Peters' boat-lifting and storage business has been bought by Premier Marinas, owner of Chichester and Brighton marinas.

The Eastbourne boat dealership had to be closed.

The administrators have also accepted offers on the Chichester chandlery business, possibly protecting further jobs, although negotiations are ongoing for the sale of the "port to port"

business.

BA Peters, which formerly had a turnover of £82 million, was forced to call in administrators in August.

The workers whose jobs could not be saved have been offered help from the South East England Development Agency (Seeda) and Chichester District Council through a series of drop-in sessions.

Founded in 1973, the company, better known as Peters Opal, was one of Britain's largest luxury boat dealerships, operating from six marinas in England and Scotland and four in Spain.

KPMG said it was still seeking buyers for the Spanish dealerships.

A Chichester District Council spokeswoman said: "We are naturally delighted that almost 30 jobs have been safeguarded through this purchase.

"It has been a difficult time for everyone concerned and following our drop-in session last week we are confident that most of the staff who had been made redundant will soon find alternative employment in the local area.

"If there are staff who have not benefited from the help and advice offered by the district council, they can still contact us on 01243 534844 for assistance."