SuperyachtNews.com - Business - Kleven files for bankruptcy

By SuperyachtNews

Kleven files for bankruptcy

The Norwegian shipyard that delivered Andromeda and Ulysses has filed for bankruptcy following a period of decline…

Kleven, the Norwegian shipyard which is known for delivering superyachts Andromeda and Ulysses, has filed for bankruptcy according to Norwegian Newspaper Dagens Næringsliv. This news follows the announcement that Kleven’s CEO has stepped down, with various news outlets suggesting that the CEO had become highly critical of Kleven’s owners.

In a press release, Kleven reports that they intend to file for bankruptcy for Kleven Verft AS and its two subsidiaries Kleven Maritime Contracting AS and Kleven Maritime Technology AS. The next step is to submit the petition for bankruptcy to the Sunnmøre district court

“Our ambition was to develop Kleven and establish our company in Norway, and it is therefore very regrettable that we did not reach a solution in this difficult situation. We have worked hard to find solutions, and together with the staff we did our best but have not succeeded,” comments Tomislav Debeljak, CEO and chairman of the board. “We will now work closely with the administrator of the estate to see if the missing payments that some of the workers have experienced can be paid faster.”

“DIV Group has experienced several obstacles during Kleven’s integration process, which has made it extremely difficult to manage the company’s operations. When the new CEO was appointed on 22 June, it was made clear that a serious turnaround was needed to make the company stable and profitable…” continues Debeljak. “During this short period, we understand that not everyone shared our goal of achieving a strong and stable Kleven. As foreign investors in Norway, we regret that we were stopped in our plans, and we will continue to fight to clarify the situation and have initiated an independent investigation of the facts.”

While Kleven has only played a bit-part role in the superyacht industry, it has at various times been touted by a number of parties as being an attractive yard to work with because of the robustness of its hull platforms and what it offers the adventurous superyacht owner. Its work on Andromeda was also much lauded at the time of her delivery, for exemplifying an entirely new level of utilitarian yachting. However, while its future remains in doubt, at least the superyacht industry will continue to enjoy its contributions to the market in the form of 107m Andromeda and 116m Ulysses.

Profile links

Green Yard Kleven

MULTIVERSE
KLEVEN 2016 2018 Delivered
116.15m 18.00m 5.70m 5937
Marin Teknikk Design & Engineering
H2 Yacht Design

Join the discussion

Kleven files for bankruptcy

31157

To post comments please Sign in or Register

When commenting please follow our house rules


Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry‚Äôs most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.

Related news

Image for Past, present and future

Past, present and future

How Hodgdon’s heritage makes it a tender manufacturer that stands the test of time

Fleet

Image for MarineMax acquires Northrop & Johnson

MarineMax acquires Northrop & Johnson

The acquisition follows MarineMax's acquisition of Fraser Yachts in 2019

Business

Image for Damen Yachting to host live superyacht event in Holland in September

Damen Yachting to host live superyacht event in Holland in September

The invite only three-day event for owners and clients will be hosted at its yard in the south of The Netherlands

Business

Image for Sanlorenzo launches first 62Steel unit

Sanlorenzo launches first 62Steel unit

The milestone represents the first of three 62Steel units currently under construction

Fleet

Image for Monaco Yacht Show postponed until 2021

Monaco Yacht Show postponed until 2021

Following various withdrawals of major stakeholders, the 30th edition has been postponed until 2021

Business

Image for Shipyard status update: Fincantieri Group

Shipyard status update: Fincantieri Group

How COVID-19 has impacted operations, including an update on Fincantieri's latest concept

Fleet

Sign up to the SuperyachtNews Bulletin

The SuperyachtNews App

Follow us on