Skip to main content

Marina auction draws a crowd

Hundreds of people turned out last weekend at Watermark Marina in Wilmington, N.C., as it auctioned off its assets, from big boats and small kayaks to furniture and equipment.

The marina, located on the Cape Fear River, filed for Chapter 11 bankruptcy protection in 2008. It was upgraded to Chapter 7 in November, meaning it must sell all assets.

"It is a tough economy," bankruptcy trustee Al Butler told WWAY-TV. "I can't speak to the reasons why the marina folded. I'm not privy to all that information. We're just trying to do the best job we can to pay back as much money as we can to creditors."

Major creditors include BankFirst, of Sioux Falls, S.D., estimated to be owed more than $13 million, according to court records.

Click here for the full article.

Related

Norm

Email Is Your Ticket to Holiday Sales

Developing an effective email campaign can bolster sales and help fill winter coffers at your dealership.

1_NMRA

NMRA Presents Annual Awards

Edson CEO Will Keene and ComMar Sales president Tim Conroy were recognized for their contributions to the marine industry.

1_ PULSE.PING.2

DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.

1_EPROPULSION

EPropulsion, Mack Boring Partner with Crest

Pontoon builder Crest will use an ePropulsion Navy 3.0 Evo electric outboard motor and an E175 battery for its 2023 Current model.

1_BENETEAU

Beneteau Reports Significant H122 Growth

The company reported that its revenue grew 8.6 percent and income increased by 30 percent during the first half of 2022.

1_WINTRON copy

Wintron Announces Virtual Show

The electronics distributor will hold its distributor show Nov. 2-9, allowing dealers to interact with sales representatives via phone, email or online chat.

AdobeStock_131758074

Rays of Light

A key indicator of U.S. consumer confidence rose for the first time in four months in August as the economy added 315,000 jobs.

1_YANMAR

Yanmar Announces Sales, Marketing Hires

The company has hired Bas Eerden as global sales manager and Michele Durkin as global marketing manager.