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bk for ds

It’s a cold world out there…

Derecktor Shipyards filed for Chapter 11 bankruptcy protection last Friday at the US Bankruptcy Court in Bridgeport, Connecticut. In court filings, the Connecticut shipyard said it has more than 200 creditors, with assets and outstanding liabilities between US$1m and US$10m.

Derecktor said in a statement on Friday that the bankruptcy does not involve its New York or Florida operations, adding that those are seeing stronger business following the recession. Its Bridgeport operation was hampered by a weak company and lack of funds, according to the statement.

The company is also facing a number of lawsuits, including one claiming the parent company owed a former client US$12m over a loan made while the shipyard builtCakewalk V. Read on.

And more bad news for power boats…