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Island RIBs Secures Future Amid Challenges for UK Boatbuilders
Stewart Goldsmith and Michael Fortune from Leonard Curtis were appointed Joint Liquidators of Island Ribs Limited on 16th September 2025.
The future of the well-known Isle of Wight manufacturer has been safeguarded after the assets of Island RIBs were sold through a structured liquidation process. The deal preserves the brand and ensures production will remain on the island.
Based in West Cowes, Island RIBs is renowned for designing and building rigid inflatable boats (RIBs) ranging from 6.8m to 10m. The company ran into difficulty following rising production costs and a general downturn in demand across the sector.
The sale of assets was completed ahead of the appointment of Joint Liquidators, who then advised the directors on placing the company into liquidation.
Stewart Goldsmith said: “Following an independent valuation and a structured marketing process, the joint liquidators determined that a sale of the company’s assets offered the best outcome for creditors, helping to maximise realisations and reduce claims within the liquidation.
He continued: “Island RIBs has built an excellent reputation for quality and innovation in both leisure and commercial markets, and its recently launched 6.8m model has already generated strong interest. We hope the new owner can build on this foundation and give the business a fresh start.”
The transaction comes at a turbulent time for the UK marine industry. Rising raw material and energy costs, higher interest rates, and supply chain disruption have squeezed margins for many builders.
Several high-profile names have also faced difficulties, including Fairline Yachts, which entered administration in February just weeks after a change of ownership.
Against this backdrop, the successful sale of Island RIBs is a positive outcome.
Stewart again: “The new owners are expected to invest in the brand and continue production on the Isle of Wight, helping safeguard jobs and provide continuity for customers and suppliers.”
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