Administrators have said Dover-based ship repairers Burgess Marine went under because a major customer failed to pay up.
The company, which did everything from upgrading superyachts to repairing warships, has made 102 people redundant.
Although based in Channel View Road the company has four other sites across the South Coast all of which have been closed.
Others in Avonmouth, Lowestoft and Poole have been sold, saving 45 jobs.
Administrator Danny Dartnaill, BDO business restructuring partner, said: Regrettably, difficult trading conditions and a shortfall in the companys working capital position – contributed to by a failure to secure the final payment due in regard to a recent major refit project – significantly affected the…
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