The Biz
Nauticat Yachts Oy, based in Riihikoski, Finland, has filed for bankruptcy. Having produced high-quality yachts for decades, the company – originally founded by Pentti Siltala more than 50 years ago in Turku – has now ceased operations.
Nauticat was one of the most well-known producers of motorsailers in the world. Around 1,300 units of its best-selling model, the iconic Nauticat 331 (originally the Nauticat 33), have been built since its launch in 1968. Ironically, they don’t build cats, but what they did build were mostly homely overbuilt slow cruisers.
The total number of Nauticats delivered over the years exceeds 3,000 yachts.
Nauticat Yachts Oy, the name of the company since 2005, was for decades known as Siltala Yachts Oy. Kaj Gustafsson served as managing director since the early 90s, and was later joined by his sons Patrik and Martin as owners and part of the management since the end of the 90s.
After several tough years, Nauticat’s owners were forced to file for bankruptcy and the company was officially declared bankrupt by the Varsinais-Suomi district court on May 16, 2018. Read on thanks to IBI.