Royal NZ Yacht Squadron appoints razor gang as $1.6m loss looms

The Royal NZ Yacht Squadron in its heyday. (Image: RNZYS)

Wed, 08 Mar 2023

The Royal New Zealand Yacht Squadron (RNZYS) is facing a trading loss of up to $1.6 million in the current financial year and is “immediately” reviewing its operations in a hunt for savings.Auckland’s blue ribbon sailing club is blaming poor trading conditions caused by covid-19 and the impact of stormy weather in early 2023 for the projected loss of between $1.4m and $1.6m.However, sources with knowledge of the situation suggest the club is also suffering from membership losses caused by its decision last year to allow the ne...

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