2016 General Meeting Of Australian Sailing

At the event Matt Allen presented the report to the president. Allen spoke for some 12 minutes and said the year 2016 is incredible for Australian sailing. The organization got its new name Australian Sailing (Earlier it was Australian Yachting) after moving from incorporated association to company limited by guarantee in year 2014.

Ruyant Down On Vendee Globe

The current status of the sailing competition is that one of the sailors has got into trouble as his boat collided with a shipping container. This occurred off the coast of New Zealand. There are images on many blogs and forums where the damage done to the boat is visible. Thomas Ruyant is a French sailor who is participating in the around the world race of the Vendee Globe. His boat has run into serious damage as it collided with a shipping container. This occurred off the coast of New Zealand, about several hundred miles in the south direction. The incident took place on Sunday.

Fairline Boats warns of job losses

Yacht-builder Fairline Boats have warned of job losses as they fight to keep the whole company afloat. The firm, which has bases at Oundle and Corby, told that it already has started a consultation period with staffs about possible redundancies as it looks to stem financial losses.

The business, which is almost about fifty-two-year-old, has also declared that they are looking for a deal from its creditors for a Company Voluntary Arrangement to serve it repay burdensome debt. This news comes only two weeks following company declared it was laying off 109 of its 465 staff temporarily for 4 weeks.

That action comes a day after the company had been purchased by Wessex Bristol Investments from the Better Capital. The company has issued a statement that read: “Since last month’s acquisition of Fairline Boats Limited, Britain’s leading luxury yacht manufacturer, new owners Wessex Bristol Investments have taken significant steps in moving the company back towards profitability.”

It added that they have already made a recent announcement regarding a workforce restructure that has involved the business entering into a collective consultation period with staff. This would enable Fairline to right-size its performances to better show the marketplace environment, thereby allowing the business to operate in an efficient manner.

The company regretted the fact that this process is expected to result in a significant number of redundancies. They have entered into this process keeping the key stakeholders, namely the creditors and employees in mind in an attempt to safeguard as many British jobs possible.