Ameritex files for bankruptcy protection

Posted on

Ameritex Technologies Inc., a leading supplier of canvas products and windshield systems to the marine market, filed for Chapter 11 bankruptcy protection.

“With the shutdown of one of our key customers, the bankruptcy filing of another major industry player and large customer, and the overall devastation that has occurred in the marine market, we were left with significant uncollectible receivables and a resulting negative cash flow position that left us with an inadequate credit line and operating resources,” said Don Zirkelbach, president of the Bradenton, Fla.-based company, in a statement.

“There was just no other way around the current circumstances,” he added.

As part of the Chapter 11 filing, Ameritex is in the process of negotiating a sale of assets to Dowco Inc., a Manitowoc, Wis.-based manufacturer of products for the marine and power sports industries.

During the course of the Chapter 11 reorganization, Ameritex says it will continue to focus on servicing its customers and pursuing continued innovation efforts on all canvas and windshield products.

Click here for the full release.

Welcome to TradeOnlyToday’s premium content! To continue reading, please register now, for access to 10 free stories per month. Or subscribe, for unlimited access to all TradeOnlyToday content!

Click here to Register ... it's free!

Basic subscription: Registered members get free access to 10 premium content stories each month!

Click here to Register!

Subscribe ... for unlimited access!

Individual subscription: $29 for unlimited site access for one year.

Small Business subscription: $140 for unlimited site access for up to 10 members of a company for one year.

Corporate subscription: $300 for unlimited site access for all members of a company for one year.

You may close this dialog after seconds.

Comments

2 comments on “Ameritex files for bankruptcy protection

  1. Steve Austin

    Little is left untouched in the marine market. Don and crew, you have my thoughts and best wishes for a re-emergence when this flood recedes. 
    Steve Austin

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.

Vote Today

Should there be new boating-safety regulations after the three-boat crash in Florida?

View Results

Loading ... Loading ...

Search Boats for Sale

Length
Year
Price

Login to Trade Only Today

Lost Password