Riviera banks on Sydney Show
Boat show sales boost luxury yacht builder's fortunesQueensland's luxury yacht builder Riviera is back in business two months after it went into voluntary receivership and sacked more than 150 full-time staff.
Buoyed by a raft of orders after the Sanctuary Cove boat show, Riviera is making yachts again and is banking on more sales at the up-coming Sydney International Boat Show to keep things going well into 2010.
From the start of this month Riviera cut its ties with Princess Yachts and Grand Banks Yachts to concentrate on its own luxury models.
The company was totally restructured after it went into receivership and CEO John Anderson thinks the new slimmer and more efficient operation can survive the world economic downturn.
"We have had to alter the business from a growth phase structure to a more nimble organisation better able to operate competitively," Anderson says.
He says by cutting links with Princess and Grand Banks, Riviera will be in a better position to "single-mindedly focus" on it own products and their future in the market.
While the company is again trading, it is still looking for a buyer. While several interested parties have looked over the operation, no formal bids have yet been made for the Gold Coast-based business.
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