ANOTHER Isle of Wight business has announced job losses.
Boatbuilders Seaward Marine, based at Prospect Road, Cowes has made eight staff redundant following a decision by owners Alison and Barry Kimber to retire.
Although Seaward's boat brokerage service will continue to be operated by Alison Kimber, it has suspended production. They hope to find a buyer for the boatbuilding business.
In a statement issued today (Friday) Mr Kimber said it was a sad time.
"I had to accept that I am well into normal retirement age and I have been facing illness that makes it more difficult for me to play the role that I would like to.
"The current economic climate is a challenge as, although we continue to have substantial interest from around the world in our boats, customers are taking much longer to confirm orders.
"As we have insufficient work to keep the guys busy, we have had to lay off eight people.
"Fortunately the company owns its assets, so we can keep the facility together and offer it to a new owner and I would be more than happy to assist whoever that is for a period."
He said he was confident that orders would eventually come through and the business would be able to continue under new owners.
Mrs Kimber added: "Obviously we're very disappointed that we couldn't continue to offer employment to a skilled and loyal workforce that has been with us for many years and concerned to find someone to take over who could perhaps offer work again.
"I am continuing to operate the brokerage business.
"There is a wide and happy family of Seaward boat owners across the world and a thriving marker in second hand boats."