De Keizer Marine Engineering has gone bankrupt. The company that supplies electrical installations for yachts had already applied for and received deferred payment of debts earlier last week.

The administrators and the board of directors asked the court to convert this into bankruptcy because this makes a restart easier. Meanwhile, talks have already been held with various parties that want to take over De Keizer’s activities. The liquidators of the company based in Zaandam, the Netherlands, will continue to do so in the next few days.

Keizer Marine Engineering has grown rapidly in recent years. Since 2008, the number of employees has more than quadrupled to around 450. The company also had offices in Spain, France, and the US. According to company, the ambitions for growth have also contributed to the company’s downfall. The rapid expansion led to inefficiencies in customer agreements, which came to light too late. The problems were exacerbated by the corona pandemic.

Source: ANP

Picture: One of the yachts De Keizer worked on was the MY Faith, delivered by Feadship in 2017 (by Brunobuisson).