icon_arrow_down icon_arrow_left icon_arrow_left_large icon_arrow_right icon_arrow_right_large icon_arrow_up icon_bullet_arrow icon_call icon_close icon_facebook icon_googleplus icon_grid_off icon_instagram icon_login icon_mail icon_menu icon_message icon_minus icon_pinterest icon_plus icon_quote_end icon_quote_start icon_refresh icon_search icon_tick_on icon_twitter icon_video_play icon_youtube

Sign up to our mailing list for the latest Boat International & Events news.

SIGN UP

Missing your newsletter?

The General Data Protection Regulation (GDPR) which came in to effect on the 25th May might mean that you’ve stopped receiving emails from us. To make sure you don’t miss out on any more emails from Boat International update your email preferences now.

UPDATE NOW
No, thanks

Will Italian yacht builder ISA Yachts close for good?

The future of Italian superyacht builder ISA Yachts is uncertain with the yard seeking protection from its creditors.

Despite launching four yachts last year, the Ancona based shipyard has not signed a new contract since May 2014 and is understood to be carrying about €40 million in debt. ISA's recent launches include 66 metre Okto, currently for sale, 44 metre Silver Wind, also for sale, 54 metre Forever One and and 43 metre _Philmi. _

In a statement, the yard said its management was “searching for a new investor to relaunch the company”, adding that the after sales and refit units remain active.

The shipyard is owned by London-based Yachting Investors Group, which Boat International was unable to reach for comment. More than 100 jobs are at risk if the yard is forced to close.

According to local paper Ancona Today, on May 18, the workers at ISA Yachts went on strike, supported by representatives from Fincantieri and CRN. Part of the Ferretti Group, CRN has undergone restructuring lately, with temporary layoffs and voluntary redundancies reported.

During the strike, the ISA workers occupied a plaza, blocking traffic and handing passing motorists leaflets that were intended to raise awareness about the situation at the yard. The leaflets stated that the workers were stuck without pay.

According to the Ancona newspaper, only 16 workers have been kept on staff at ISA, working in rotation to take care of the maintenance of two yachts.

Upgrade your account
Your account at BOAT International doesn't include a BOAT Pro subscription. Please subscribe to BOAT Pro in order to unlock this content.
Subscribe More about BOAT Pro