Struggling Italian superyacht builder Mondomarine has been given another lifeline in a bid to survive. The lifeline comes in the form of a 60-day concession granted early in October which lasts until the end of December by the financial authorities and court overseeing Mondomarine’s case.

According to media reports, up for five offers have been received for the facilities in Savona and Pisa but only one of those showed interest in taking on both sites. The latest information points to 80 employees being retained by Mondomarine and Cantieri di Pisa. Of the 80, Savona has 61 and Pisa 19, and the company will have to pay for their ongoing employment.

In addition to the Courts and relevant financial authorities, the Ministry of Economic Development in Rome, trade union officials and the Savona Port Authority are all participating in the negotiations and efforts to save Mondomarine.

By December 5, indications have to be provided to the Court that there are good possibilities of Mondomarine being taken over or continuing with new investors.