GYG reopens in Barcelona and Palma

GYG, the superyacht painting and maintenance company, has reopened in Barcelona and Palma. It plans to reopen in La Ciotat, France later this week. GYG says that it has continued to maintain operations in Northern Europe and the US.

“Despite this disruption, the order book remains robust for 2020 and beyond and at this time the Board remains comfortable with current market expectations,” said the company in a statement.

The company has tentatively agreed with its banks to reschedule the payment of €4 million loan due on at the end of March 2021 to the end of October 2022. The loan has a single bullet payment. Although the final decision will depend on GYG’s annual results.