US Watercraft receivership ? (Alerion etc)
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summeradventures
New member
Alerion Yachts,
C&C Yachts,
True North Yachts,
North Rip Boats,
licensed builder of several JBoat models
C&C Yachts,
True North Yachts,
North Rip Boats,
licensed builder of several JBoat models
Glenn McCarthy
Super Anarchist
As I learned as a child, "How do you make $1,000,000 in boating?" Start with $2,000,000.
Great Red Shark
Super Anarchist
" The way to make a small fortune in the boat-building business is to start with a large one. "
Scot loves it when you link stuff from the 'butt. What what...
Scot loves it when you link stuff from the 'butt. What what...
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- #14
summeradventures
New member
I little birdie pondered over a scotch this evening...
He was asked "How many C&C bankruptcy events?"
"Let me try
1. First it was that airline guy
2. North South charter guy
3. Hong Kong guy
4 Tartan Yachts guy
5. Now US Watercraft.
That's 5! Must be a record in the industry!"
He was asked "How many C&C bankruptcy events?"
"Let me try
1. First it was that airline guy
2. North South charter guy
3. Hong Kong guy
4 Tartan Yachts guy
5. Now US Watercraft.
That's 5! Must be a record in the industry!"
Rasputin22
Rasputin22
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Yeah, I thought that there was some sort of connection with Tartan.
Trendsetter
Super Anarchist
first rate businessman... well if he was a good businessman he wouldn't have gotten in the marine industry.
Also was barely Careful still in the mix with C&C? if so how many boat companies is this his name has been attached to that have done less than great...
kent_island_sailor
Super Anarchist
C&C sadly goes bankrupt more often than a Trump casino 
OTOH they always seem to dig their way back out of their grave B)
I did speculate that the sport boat market is too many boats chasing a relatively fixed pool of buyers, but that may just be sailboats in general at this point.
OTOH they always seem to dig their way back out of their grave B)
I did speculate that the sport boat market is too many boats chasing a relatively fixed pool of buyers, but that may just be sailboats in general at this point.
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- #19
It is my understanding that the C&C transaction was a non-cash deal.
Randy Borges has been in the business for decades. He knows the business extremely well and always had run a first rate & profitable enterprise. The TPI deal was also nil cash - essentially just a big building.
Therefore, it's surprising to hear this news.
Randy Borges has been in the business for decades. He knows the business extremely well and always had run a first rate & profitable enterprise. The TPI deal was also nil cash - essentially just a big building.
Therefore, it's surprising to hear this news.
CasualObserver
Member
This is not the first time that an existing and successful marine related business has fallen apart after lawyers get involved in ownership. "Smart businessmen/people" want to be in the marine industry in the worst way, buy into an otherwise reasonably well run company, and in a matter of years manage to bury it. This one is ugly in a lot of ways. C&C angle had nothing to do with it. Nor BC - he never had an ownership stake in USW/WLS. He exited some time ago - likely when he saw the writing on the wall. I'm waiting to see the list of creditors - that will be interesting.
