Debts of more than £600,000 are likely to remain unpaid after the collapse of a Plymouth boat refit company set up by two former Princess Yachts employees.
Yacht Solutions Europe Ltd, based at Turnchapel Wharf, has gone into liquidation after facing tough trading and cash flow problems.
The company carried out a huge range of yacht refit and repair, with services including engineering, retrofitting, carpentry, upholstery and upgrades.
It worked on projects worldwide and opened a base in Florida, USA, in 2023. It described itself as “a tightknit small business started by two craftsmen to provide the best quality of work and service to the luxury yachting industry”.
The company was set up by Paul Eccles and Dave Watson in 2021 after the…