As of the 25th of May 2010, management of Drettmann GmbH has filed for bankruptcy. The luxury yacht builder and dealer, based at Bremen-Hemelingen, situated directly on the Weser River, Drettmann employs around 100 people.
According to information released by the Drettmann Group, the decision to make the company insolvent was in response to the decline of the prices in the used yacht section of the market. A statement from the company said that the objective of the insolvency is to restructure the company and the preservation of jobs.
The Drettmann management hoped that this step would have no further detrimental effect on the company’s customers, with the continuation of the Drettmann Groups products being sold worldwide.
Drettmann was founded in 1970 and is a German family business that developed into one of the most prominent manufacturers of luxury yachts in the world. The product range covers the product brands ELEGANCE YACHT range, which is the result of a successful cooperation between Horizon_Yachts of Asia and Drettmann Yachts of Germany, the explorer range BANDIDO YACHTS, ELEGANCE OPEN SPORTYACHTS as well as PREMIER YACHTS and VISION YACHTS.