The Flensburg and Neumünster district courts have initiated insolvency proceedings for the FSG-Nobiskrug shipyard group, which includes FSG-Nobiskrug Holding GmbH, Flensburger Schiffbau-Gesellschaft mbH, Nobiskrug Yachts GmbH, and FSG Nobiskrug Design GmbH.
With nearly 500 workers employed at facilities in Flensburg and Rendsburg, securing their future has become a key focus for the provisional insolvency administrators, Dr. Christoph Morgen and Hendrik Gittermann.
In a move to address immediate concerns, pre-financing has been secured to cover salaries through January 2025, including overdue payments for November. This measure ensures temporary financial relief for the group’s employees, with 340 based in Flensburg and 140 in Rendsburg, as efforts to restructure the company begin.
Efforts are also underway to develop broader restructuring solutions for the shipyard group. The administrators are committed to preserving the legacy of Nobiskrug...
Discussions are being organized with the clients of two significant projects currently underway: a RoRo ferry at FSG’s Flensburg site and a superyacht at Nobiskrug’s Rendsburg facility. Ensuring the completion of these builds is seen as vital to stabilizing operations and maintaining the shipyards’ reputations.
To facilitate progress on these projects, the administrators are exploring interim financial support from federal and state governments. Such assistance would help bridge funding gaps in construction costs until final payments from clients are received.
Efforts are also underway to develop broader restructuring solutions for the shipyard group. The administrators are committed to preserving the legacy of Nobiskrug and FSG, which have played pivotal roles in Germany’s shipbuilding industry for decades.
As these discussions progress, there is cautious optimism that these historic shipyards can overcome their current challenges and chart a path back to stability. For now, the industry watches closely, hoping that the measures being implemented will provide the necessary lifeline to secure their future.
To date, Nobiskrug has built an impressive fleet of 12 superyachts, each demonstrating the yard's expertise in high-tech systems, forward-thinking design, and precision craftsmanship. From groundbreaking designs like Sailing Yacht A to timeless classics like Tatoosh, Nobiskrug’s creations are celebrated worldwide. Click here to explore Nobiskrug's entire fleet.
