Bankruptcy officer tags Ranger as Genmar’s best asset

Posted on November 17, 2009

Ranger Boats, based in Flippin, Ark., was determined to be the biggest prize owned by Minnesota-based Genmar Holdings as the company moves toward an auction of assets.

A Midway manufacturer now pulling double-duty as an officer of the Minnesota District U.S. Bankruptcy Court says Ranger will be the biggest prize as Genmar moves toward an auction of assets, according to a report in the Baxter Bulletin.

The bankruptcy pleadings that began June 1 changed direction last week when partners, stakeholders and the judge decided an auction was the best way to bring in investor money.

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Comments

4 November, 27 2009, 11:00 AM

By Burned by Genmar

What about Triumph?  They are the oddball in the Genmar org, but lots of customer and dealer interest due to the simplicity of the boats.  Seems Triumph would also bring good money in an auction, and would probably not be one that Jacobs is interested in keeping?

3 November, 23 2009, 05:52 PM

By BIG T

Pure Rocket Science

2 November, 17 2009, 06:25 PM

By Uncle Buck

Wow again. Are they going to auction off each company piecemeal? JACOBS WILL TRY TO CHERRYPICK IF THEY DO, BUT IT WILL BRING MORE FOR THE BETTER ASSETS AND INTEREST WILL GO UP.

1 November, 17 2009, 11:55 AM

By Joe Stone

Wow - I hope they're not paying this guy a fortune to figure out the obvious.

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