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Seattle boatyard closes shop - Trade Only Today

Seattle boatyard closes shop

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Seattle's Lake Union Yacht Center closed Nov. 30, following a 60 percent drop in business.

Just two years ago the company had moved to a new location, with a facility double the size of the old one, and owner Geo Tamblyn knew he would have to increase business by 20 to 30 percent to cover costs at the two-acre site.

The company was doing about $3 million of business annually, enough to keep his staff of 40 busy.

"Then," Tamblyn told Three Sheets Northwest, a news partner of The Seattle Times. "October '08 rolled around."

The closure of Lake Union Yacht Center is a sobering sign for the region's other boatyards, many of which have also seen a sharp drop in business. Granville Marine in Anacortes closed last spring and others are struggling to stay afloat.

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