Luxist

Italian yachtmaker Ferretti may lighten its load by selling off some of the less expensive brands it owns. Of course less by Ferretti standards is still quite expensive. One of the brands Ferretti may unload is Apreamare, a unit which makes gorgeously classic fishing boats. The boats are modest compared to Ferretti's standard megayachts and sell for as little as 500,000 euros. Ferretti flirted with bankruptcy earlier this year but a group of 100 creditors led by Royal Bank of Scotland Group Plc converted their debt to equity to avert bankruptcy for Ferretti and restructured 1.2 billion euros of debt. 26/05/09