Genmar?????

[winddancer]

I came across an article.....GENMAR is going bankrupt? Anyone hear anymore about this and what that is going to mean for the brands they carry?

 

[oops!]

Re: Genmar?????

hi....welcome to i boats !

manufacturers going bankrupt is the norm these days ! uasually what happens is the brand is contracted to be built by another manufacture....the new manufacturer then assumes the warranties of the older production models.

it is a way of keeping the brand alive when the old owners are toast

 

[sickwilly]

Re: Genmar?????

I believe most of their bankruptcy is worked out -- at least several brands were sold in a package to a new company.

 

[RotaryRacer]

Re: Genmar?????

Genmar is going, has gone, and is no longer.

Platinum Equity bought most of the brands and facilities.

Hydra Sports was bought by the parent company of Mastercraft.

The yacht companies and couple of others are now owned by a Irwin Jacobs (founder of Genmar) and his business partner.

This has been huge news for that last 6 months and everything was finalized a couple of weeks ago.

 

[RotaryRacer]

Re: Genmar?????

More reading:

http://www.tradeonlytoday.com/component/search/genmar?ordering=&searchphrase=all

 

[TBONE59]

Re: Genmar?????

genmar is gone platinum equity is in.

got an email from www.boattest.com http://www.boattest.com/Resources/view_news.aspx?NewsID=4019

 

[NCLakeboater]

Re: Genmar?????

Platinum also confirmed it completed the acquisition of certain other assets from Genmar Holdings and in turn sold those assets to J&D Acquisitions, which is controlled by Genmar founder Irwin Jacobs and Jean-Paul Dejoria.

The assets acquired and then sold to J&D include the Larson, Seaswirl and FinCraft boat brands, as well as the Little Falls, Minn., manufacturing facility that builds those brands; the Seaswirl manufacturing facility in Culver, Ore., and all of its related assets; VEC Technology LLC, located in Greenville, Pa.; the Triumph boat brand and related assets; and the Windsor Craft boat brand and related assets.

So a sort of greatly reduced Genmar (owned by Irwin Jacobs and Jean-Paul Dejoria) re-acquired Larson, Seaswirl, FinCraft, Triumph and Windsor Craft boat lines in addition to the Marquis and Carver Yacht brands.

 

[golf101]

Re: Genmar?????

Wind: You gotta get a new news source. The bankruptcy was filed last summer. . Looks like it's going to work out alright for boat owners, though. Platinum Equity said its going to honor warranties, and it has the money to pump up the brands it bought.