Baker Tilly Restructuring and Recovery has confirmed redundancy notices have been given to 234 employees of Sealine International Ltd, a manufacturer of luxury yachts.
Baker Tilly was appointed administrator to Sealine on 30 April 2013. Graham Bushby and Guy Mander are the two administrators working on the case.
Graham Bushby, restructuring and recovery partner at Baker Tilly, said: “Sealine has been an important employer in the area over a number of years.
Baker Tilly has stated it will be assisting staff to make claims against the government redundancy fund.
Kidderminster-based Sealine was incorporated in 1973 and employs 300 staff, operating through a global network of 40 luxury yacht dealerships.
Sealine is the owner of two subsidiaries – Sealine South Coast Limited and Fibratrim Limited.
Graham Bushby said: “We will also be working to maximise recoveries for the company’s creditors, which includes the sale of plant and recovery of monies owed to the business.”