Swedish boatbuilder files for bankruptcy

Posted on

Swedish boatbuilder Nimbus, a favorite of the European cruising fraternity, filed for bankruptcy, citing pressure from lenders as well as the overall financial climate.

“After trying everything to find a solution to our challenging situation, this is a sad moment,” Nimbus chief executive Magnus Andersson told U.K.-based Motor Boats Monthly. “I think that we did everything within our power, but looking back I recognize that it was not enough.”

Responding to the news, Chris Harridge, chief executive of Offshore Powerboats, the long-standing U.K. importer for Nimbus, said that, although the announcement came at a bad time there were reasons to be optimistic.

“Both Nimbus and Paragon are among the industry’s most recognizable and strongest brands and have a loyal following among those who know and use them,” Harridge said. “With these brand assets and an established worldwide distribution network, the Nimbus Group makes an attractive purchase option to a new investor who understands the marine leisure market.”

Nimbus started life in 1977 as a family-run business. It was sold to investors in 2006. The Nimbus Group includes the Ryds, Paragon and Storebro brands.

Click here for more.

Comments

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Your email address will not be published.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

What are your expectations for the spring and summer selling season?

View Results

Loading ... Loading ...

Search Boats for Sale

Length
Year
Price