Click for Abeking Click for Cheoy Lee List Your Boat Click for Walker Click for Mag Bay

Baglietto Closes Down

Discussion in 'Baglietto Yacht' started by lwrandall, Mar 29, 2010.

  1. lwrandall

    lwrandall senior member

    Joined:
    Mar 31, 2004
    Messages:
    292
    Location:
    Baltimore
    I just read that Baglietto ceases operations in both shipyards. Very sad indeed....



    March 29, 2010: LA SPEZIA, ITALY - - The global downturn seems to have claimed another yacht builder: Baglietto.

    Several different news reports in local Italian newspapers stated last Friday that the yard succumbed to debt. Citta della Spezia reported that workers arrived at the La Spezia facility that morning but were unable to enter, as a liquidator had been appointed on Thursday and was to meet with loan holders to discuss the feasibility of financial restructuring.

    Another newspaper article stated that Baglietto's second facility in Varazze was also shut down, and that despite Baglietto's holding company presenting a restructuring plan to banks, the plan was rejected.

    Meanwhile, the newspaper Citta di Genova ran an article beneath the headline “Cantieri Baglietto: The bitter denouement of a Ligurian story.” It traced Baglietto’s long history, beginning with its founding in 1854. The article went on to relate Baglietto’s years of building racing yachts, and its eventual sole focus on megayachts beginning in 1987, with the first one being the 35-meter Adler.

    None of the articles made mention of the projects that Baglietto anticipated delivering in the next few months. Earlier this month it launched its first Wide Body, the 42-meter (138-foot) Lucky Me, pictured above. Other yachts expected to hit the water this year included a 43-meter (141-foot) Displacement, 41-meter (135-foot) Semi-Displacement, and 46-meter (151-foot) Displacement.
  2. SHAZAM

    SHAZAM Senior Member

    Joined:
    Jan 26, 2008
    Messages:
    605
    Location:
    The Ghetto
    Horrible news.
  3. Yacht News

    Yacht News YF News Editor

    Joined:
    Mar 29, 2006
    Messages:
    19,529
    Location:
    Caribbean
    Indeed horrible news!
  4. riva raver

    riva raver New Member

    Joined:
    Nov 17, 2006
    Messages:
    12
    Location:
    torpoint
    baglietto demise

    i remember the first time i ever saw a baglietto she was speeding out of palma harbour with an assortment of supermodels draped around her !she was called THE ONE an awe inspiring site to my eyes,i have a few official baglietto brochures in my collection(the closest i'll ever get to owning one !)
    its such a sad thing that a company with a distinguished history should go to wall.
  5. Yacht News

    Yacht News YF News Editor

    Joined:
    Mar 29, 2006
    Messages:
    19,529
    Location:
    Caribbean
    Apparently, Overmarine has bought Baglietto and Cantieri Di Pisa. Both brands will supposedly continue building their branded boats. Of course Overmarine will continue to manufacture Mangusta brand open yachts.
  6. riva raver

    riva raver New Member

    Joined:
    Nov 17, 2006
    Messages:
    12
    Location:
    torpoint
    Baglietto + Cantieri Di Pisa lifeline

    This is very good news indeed,
    i hate seeing well loved and respected companies going to the wall,
    and to see Overmarine putting up the cash AND keeping the names we all know and respect can only be a good thing.
    We need more good news like this during these lean times and maybe just maybe things are starting to turn around, and maybe i'll be able to sell my full set of the "superyachts" annuals yet :) !!