going under

UPDATE: We did hear from Randy Borges, and he is going to share some insight about what happened to this once stellar company. And Kris isn’t a hack!
We heard that US Watercraft, builders of the C&C 30, C&C 41 (um…),  Alerion, True North, etc., are in receivership. The term receivership describes the process in which a ‘receiver’ is appointed by the creditor, typically a bank, to administer and ‘receive’ (i.e. liquidate) the company’s assets so the secured creditors can collect the money it’s owed.
We don’t know the specific details as neither President Randy Borges or PR person Kris McClintock could be bothered to reply to our e-mail enquiries. Little did we know that McClintock no longer worked there…
We suspect that the moribund C&C 41 combined with the early death spiral of the underwhelming C$C 30 didn’t help matters. Whatever, they are in trouble.
Title inspiration thanks to Devo.