The Ocqueteau shipyard in receivership
The pleasure boat builder Ocqueteau was placed in receivership on September 18, 2019 by the Court of La Rochelle. The company founded by Guy Ocqueteau, based in Château d'Oléron since 1948, has already changed hands and filed for bankruptcy several times in the years 1980 to 1995. Since then, the site, relaunched by Jean-Pierre Mellier in 1995, had been smoothly passed on to its current manager Christian Monier in 2013. With 6000 m² of workshops and 15000 m² of land, it currently employs 39 people.
A reasoned act to preserve employees and the boat brand
Christian Monier, the director of Ocqueteau, considers the choice of receivership as the best solution to ensure the future of the Oleron-based nautical company. " It is a reasoned decision to do things cold and preserve the brand, the site and the 39 employees. We have already seen in the nautical industry that it is not because you file for bankruptcy that you disappear. There are already several candidates who have shown interest. "
A lack of capital in a troubled economic environment
Since its takeover in 2013, the Ocqueteau shipyard had experienced a nice growth dynamic. The turnover had increased from 1.7 Meuros to 4.15 Meuros in 2018. But the recovery of the yachting industry took longer than Christian Monier had hoped and the yard accumulated losses that weakened the financial balance of the yard. " The lack of cash eventually disrupted production, as we didn't have enough inventory, disrupting the manufacturing of boats sometimes over a few days. The gain in volume with the increase in orders was not enough to compensate for the losses in productivity." summarizes the manager.
In 2019, the French and international context is turning the tables. The Brexit and the Spanish political instability weaken Ocqueteau's 2 main export markets, while the yellow vest crisis affects French retailers and the taxation of pensions worries the over-60s, the main French customers. Orders fell by 30% over the year, after 3 years at +25%. "In June, they fell by 70% compared to the same month in 2018" testifies Christian Monier.
Boating requires investment
To adapt to the yachting market, Ocqueteau needs to be able to invest, says its manager. " The 5-10m segment, which is aimed at the upper middle class, is suffering, while the larger boats are selling better. We were never strong enough to start manufacturing our new RC10, when we should have. "The objective of the procedure is therefore to find a shareholder capable of making this type of investment.
