Yes. Oyster was bought out of administration in March 2018 by entrepreneur Richard Hadida and currently builds a seven-model range from the 495 to the 885SII. In 2026 it is consolidating production at Wroxham in Norfolk.
What happened to Oyster Marine in 2018?
The company ceased trading in February 2018 after a 5.2 million pound insurance claim tied to the 2015 keel failure and sinking of the Oyster 825 Polina Star III. Richard Hadida bought the business out of administration the following month.
Where are Oyster yachts built?
In Wroxham, Norfolk. Oyster announced in May 2026 that its Southampton Saxon Wharf site would close by the end of that year and that all future yachts would be built at the Wroxham shipyard.
Oyster builds British bluewater cruising sailboats from 50 to 90 feet. Founded in 1973 as Oyster Marine, it now operates as Oyster Yachts from Wroxham, Norfolk. Owner Richard Hadida, who bought the business out of administration in 2018, has rebuilt it around a seven-model range.
From Oyster Marine to Oyster Yachts
Established in 1973, the company grew up around Wroxham and Ipswich in eastern England and was later based in Southampton. It was historically incorporated as Oyster Marine Ltd, the name many older records and listings still use. Oyster puts its fleet's combined experience at more than 20 million bluewater miles and over 100 circumnavigations.
Keel failure, collapse and rescue in 2018
Oyster stopped trading in February 2018. A 5.2 million pound insurance claim that followed the 2015 keel failure and sinking of the Oyster 825 Polina Star III off Spain had overwhelmed the business, which then employed about 420 people. The next month Richard Hadida, a founder of Evolution Gaming Group, bought the assets out of administration and restarted production. By 2021 the company was reporting profits again.
The current range and the move to Wroxham
Today's range runs from the Oyster 495 at about 50 feet to the 885SII at 90 feet, and also includes the 565SII, 595SII, 675, 745 and the new 805. In May 2026 the company announced that its Saxon Wharf site in Southampton would close by the end of the year and that future yachts would be built at its Wroxham shipyard in Norfolk. Oyster runs its own charter, brokerage and crew placement services, and used Oysters appear regularly in brokerage listings, including on GetBoat.
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