Southampton-based Oyster Yachts has delivered its first yacht since being saved from going under by gaming tycoon Richard Hadida.

The Oyster 575 had been initially ordered under the previous ownership but had been left incomplete when the business fell into administration.

An official champagne naming ceremony took place in Ipswich yesterday culminating in a launch party attended by the yacht’s new owners as well as Paul Adamson (CCO) & Becky Bridgen (CFO)

This follows news that under its new leadership, Oyster Yachts has agreed contracts to complete almost all of the orders which were underway when the previous company collapsed. There are currently 14 vessels being completed at Oyster’s sites in Southampton and Norfolk, testament to the company’s revived manufacturing capability.

CEO Richard Hadida expressed his joy about this latest development in Oyster’s story, saying: “With the completion of our first yacht, I am proud to say Oyster is firmly back in business. I am delighted that we have been able to complete orders which were originally taken under the old owners, finishing them up to the standard of excellence Oyster owners everywhere expect. As we rebuild the brand, it is important for us to focus not only on new customers, but existing members of the Oyster family.

“Our customers can trust that we have the expertise and capacity to deliver yachts that are true to the Oyster name. With… more legacy vessels currently under construction and new orders coming in all the time, we look forward to christening many more Oysters with a champagne welcome in the months and years to come.

"We have hugely ambitious plans for Oyster. Today is a key milestone in our future growth.”