Holland, Mich.-boatbuilder Grand Craft has shut down operations.
The company specializes in classic, high-end wooden boats, but with the plant shut down indefinitely and about 20 employees apparently out of work, the future of the company is in jeopardy, according to an article in the Holland Sentinel.
Grand Craft was founded by Steve Northuis in 1979 and focused on handcrafted mahogany runabouts.
Current owner Tim Masek, who bought the company in 2006, confirmed employees were recently laid off but said Grand Craft isn't finished.
"We're still in business," he told the newspaper. "We are looking to sell it to a different company."
There was no answer this morning at the company's headquarters.