Superyacht News

News: Gruppo Baglietto Shipyard To Close Down

March 30, 2010 by Superyacht News
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The Italian Gruppo Baglietto established in 1841 by Pietro Baglietto has been a very popular name in the yachting circle for most of its magnificent yachts. However, this long standing shipyard which has its offices in La Spezia and Varazze is soon to close down. Before calling in for closure, the company had superyachts such as Ancorra, Oxygen, Lucky Me and Apache II to its credit.

According to reports, since a liquidator was summoned by the Italian courts, the company is in liquidation. It was fiercely gripped by the financial downturn and compelled to wind up all its operations. Currently, the Italian courts are looking for someone who can take charge of this prestigious shipyard.

Gruppo Baglietto along with Cantieri di Pisa was tremendously acknowledged for their 41m Blink which had won the honor of being the best semi-displacement superyacht in the 40+m series at the World Superyacht Awards. Today, the shipyard is on the verge of a closure due to the bank’s refusal for its plans. It met with losses to the tune of EU25 million in 2008 and that of EU105million in 2009. Besides this, the shipyard had its share of struggle with another loss – the almost ready 53m Hull – due to the fire in January 2009 which entirely destroyed the vessel.

This also prompted objection from 47 contracted workers at the shipyard on a set of locked gates. They raised their concerns over the abrupt closure of the company leading to a bleak future for them. However, liquidator Galanti Frederick had resolved all these issues with the union representatives.

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