Sweden Yachts is ‘under reconstruction’ having suffered financial problems in the economic downturn.

Sweden Yachts’ economic woes became urgent at the end of the summer and the company filed for an economic reconstruction with hopes of better sales,despite the recession on the market.

Lawyer Margareta Andersson, reconstructor of the company, told daily newspaper Dagens Industri, Sweden Yachts has debts of £611,000.

The Sweden Yachts yard is located in Stenungsund on the Swedish west coast,
where it produces around 25-30 yachts per year.

The company was founded by Sven Enoch in 1976 with the launch of America’s Cup yacht Sverige, which was designed by Pelle Petterson. Today Sweden Yachts builds high-performance custom yachts from 12m-24m (40ft-80ft). Sven Enoch is still the main owner.