A Dutch court has granted Jetten Shipyard time to sort out its finances, providing relief from creditors and space to craft a strategy to avoid bankruptcy.
“Salaries have been paid and the finishing of yachts in build is continuing,” Jetten Shipyard director Jeannot Grim told the Dutch yacht-building site Jachtbouw Actueel.
He added there were “a number of potential buyers” for the yard’s latest – the Jetten Beach-65 Wheelhouse Custom. The 19.3m twin-engine yacht is listed from €2.3m to €2.8m, depending on the version.
Jetten Shipyard’s financial woes became public earlier this month. It follows several successful years in which the yard twice won European Motor Boat of the Year awards. Grim has blamed his yard’s troubles on underselling and taking on too much work.
Jetten Shipyard was founded in 1997 by brothers Marcel and Sander Jetten. In July 2017 they sold the company to then general manager Grim to spur international growth.
Jetten makes steel and aluminium motoryachts from 38ft-65ft (11.6m-20m) in five model lines. To date, it has built more than 325, including its award-winning Beach series.