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Financing costs SkipperLiner workers their jobs - Trade Only Today

Financing costs SkipperLiner workers their jobs

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A deal that would have financed the construction of two boats at SkipperLiner Industries Inc. fell through, sending about 20 workers back home.

About half of the company's workers were called back Monday to the idled boatbuilding facility to finish work on the boats, which was expected to take until the end of October. But the workers were told financing fell apart when they arrived at work Thursday morning, the LaCrosse Tribune reports.

"The deal fell apart, so we had to send the employees home today," said court-appointed receiver James McNeilly. He declined to say why the financing failed.

The financially troubled boatbuilding firm shut down April 30. That also was the day SkipperLiner filed for Chapter 128 receivership in La Crosse County Circuit Court.

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