Perini Navi declared bankrupt

Italian superyacht yard, Perini Navi has been declared bankrupt after its debt structuring plan was thrown out by an Italian court.

According to Italian media (Il Tirreno and Milano Finanza), the Court of Lucca — just west of Florence — rejected the restructuring plan on January 26th.

The court reportedly also turned down a request for more time to present other structuring and financing options and declared the Italian yard bankrupt as of February 1st.

The news comes despite private equity company, Blue Skye Investment Group announcing last year that it intended to restructure the shipyard’s debts and invest in the Italian yard. A brand that has been in existence since 1983.

Also, Italian shipyard Sanlorenzo had previously said it was considering a “possible acquisition” of Perini Navi.

Currently owned by the Tabacchi family, Perini Navi previously announced it was looking to restructure its debt in a statement released by the Perini Navi board of directors.

Last July, Norwegian yard, Kleven, known for it superyacht builds filed for bankruptcy following a period of decline. Known for delivering superyachts Andromeda and Ulysses, the yard’s CEO left the company after a reported dispute with the owners.

Crossing the Atlantic, the refit yard Savannah Yacht Center (SYC), Savannah, Georgia was designed to service superyachts. The team over at SYC reported a very busy refit season on the US East Coast becoming known in the domestic market as a “refit hotspot”.