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Posts Tagged ‘bankrupt’

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US Watercraft’s bankruptcy auction is coming up in just over a week, and if you’re in the area and have some cash to burn, you might not want to miss this one!  You can also bid online at the below link.

The auctioneer says there is “a wide assortment of woodworking equipment, travel lifts, a Farr 30 and five J/Boats…an enormous inventory of marine parts, supplies, anchors, props, boat parts, stainless fasteners and fabrication equipment, such as chopper guns and power tools…sailboats, some restored, Acme Travel Lift, huge inventory of woodworking equipment, including a CNC Router, plus new marine stoves, refrigerators, blade props, feathering props, bow chucks, cleats, stainless steel wire, swaging machines, fenders and so, so much more to sell and it all has to go no matter the price….two, three four of everything. Most has never been used.”  Inspection and preview is slated for November 9 and 10 from 8:30 AM to 4:30 PM and, prior to the auction, on November 11,  More info in the thread (where the auctioneer is answering questions) and at the auction site, or you could just read the full PDF auction catalog here.

Title shout to a gem from 1983, when Chevy Chase was a god.

November 2nd, 2017 by admin

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Despite landing much of the VO65 build contract and work from Ben Ainslie Racing as well as multi-million dollar jobs like Nigel Irens big catamaran and Missy, UK builder Green Marine shut its doors on October 3rd and placed itself into bankruptcy – something that was supposed to be prevented by Vitters’ takeover of the English builder back in 2010.  We don’t know whether it was a major management issue, a defaulted payment, or more likely, the fact that Vitters had exhausted Green’s composite know-how and were tired of spending more money, and we don’t know if Green’s 2010 move to a much bigger location in 2010 was a factor, but either way, the builder of some of the world’s most successful and iconic racing yachts is soon to be no more, with 50 good boatbuilding and admin jobs gone overnight.  All this despite more money being spent on big yachts today than at any time in history…

There is another and quite different Green Marine, and this one is only going to get more important. Check them out here.  

Talk the death of Green (and the boat industry?) in the forums.

 

October 9th, 2017 by admin

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Bankruptcy_monopolyGunboat USA’s is well-documented for the multihull sector.  Hall Spars just reportedly sent out the official notices of theirs, showing that even the world’s best racing spar builder isn’t immune.  Hathaway Reiser shows that sailmakers – even from the 1800s – can’t hold it together.  Brewer’s Yacht Yard seems to have sort-of saved itself by selling to a marina holding company.  And now, Navtec USA gets on the list of shuttered American sailing outfits, with at least one Anarchist warning that ‘another unnamed northeast raceboat building company…will likely be shuttering their doors soon.’

Fortunately, we have God to thank for the bounty that is soon to come.  Everyone, hold your breath…and….GO!

February 9th, 2017 by admin

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Outremer: Pronunciation: /ˈo͞otrəˌmer/ – A name applied to the medieval French crusader states, including Armenia, Antioch, Tripoli, and Jerusalem. Origin:  From French outremer (adverb) ‘overseas’, from outre ‘beyond’ + mer ‘sea’.

 

The secret ‘stalking horse’ bidder for the bankrupt Gunboat company has finally popped up in the court filings for the beleaguered American icon, and who better to take over a high-performance offshore catamaran company than the country that invented high performance offshore catamarans?

 
That’s what Southern France’s Outremer Catamarans is aiming to do if the Court accepts their $500,000 bid for the North Carolina company’s molds, hulls, marketing lists, trendy swag, and quite possibly the G4 Timbalero.  Meanwhile, our old friends and the co-designers of the G4, Schickler Tagliapetra, have already moved on to develop a ‘baby G4’ under the Stiletto name.

 
Our Senior Editor says Outremer CEO Xavier Desmarest is the real deal.  “This guy oozes passion for the sport, has a refreshing and powerful concept of loyalty to his customers,” said Mr. Clean, who spent a couple of hours at the Outremer factory back in 2013.  “He seems to understand the ‘business of high performance cruising’ far better than most, which was probably Gunboat’s biggest failing.”

 

April 13th, 2016 by admin

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