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BrewDog creditors owed £190m will not be paid in full, say administrators

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Nautitech Catamarans enters redressement judiciaire

Nautitech Catamarans entered redressement judiciaire — French court-supervised restructuring, in August 2026, following a ruling by the Tribunal de Commerce de La Rochelle. The procedure is not liquidation:…

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Nautitech Catamarans enters redressement judiciaire
Nautitech Catamarans entered redressement judiciaire — French court-supervised restructuring, in August 2026, following a ruling by the Tribunal de Commerce de La Rochelle. The procedure is not liquidation: according to Katamarans, the yard continues to build and deliver yachts while a six-month observation period begins. While debt was reduced and equity improved, cash dwindled to €3.02m as customer deposits shrank.

There has been a sharp decline in turnover, from €30.3m in FY2023 to €18.8m in FY2025, alongside falling operating performance and cash reserves. It attributes the difficulty principally to lower sales volumes, the cost of maintaining the yard’s fixed base, reduced customer-funded working capital as well as the owners Bavaria/private equity firm CMP refusing to recapitalise, triggering the procedure to facilitate a sale. 

Existing contracts continue during the observation period, though the position of warranties and customer stage payments has not been publicly stated. Nautitech’s future may depend on a sale or a continuation plan with new capital.

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