Redruth-based catamaran builder Powercat is facing voluntary liquidation, according to reports today.
The BBC is reporting that creditors are due to meet later to ascertain whether the company’s debts can be repaid. The ten members of staff have already been laid off.
Powercat is the second high profile boat builder to become a victim of the downturn in recent weeks. Last month Rock-based Select Yacht Group went out of business.