Updated:
Original:

Swedish boatbuilder files for bankruptcy

Swedish boatbuilder Nimbus, a favorite of the European cruising fraternity, filed for bankruptcy, citing pressure from lenders as well as the overall financial climate.

"After trying everything to find a solution to our challenging situation, this is a sad moment,” Nimbus chief executive Magnus Andersson told U.K.-based Motor Boats Monthly. “I think that we did everything within our power, but looking back I recognize that it was not enough."

Responding to the news, Chris Harridge, chief executive of Offshore Powerboats, the long-standing U.K. importer for Nimbus, said that, although the announcement came at a bad time there were reasons to be optimistic.

"Both Nimbus and Paragon are among the industry's most recognizable and strongest brands and have a loyal following among those who know and use them,” Harridge said. “With these brand assets and an established worldwide distribution network, the Nimbus Group makes an attractive purchase option to a new investor who understands the marine leisure market.”

Nimbus started life in 1977 as a family-run business. It was sold to investors in 2006. The Nimbus Group includes the Ryds, Paragon and Storebro brands.

Click here for more.

Related

CSP Joins ‘Thirty by Thirty’ Coalition

The Center for Sportfishing Policy and 54 coalition members submitted recommendations for the Biden Administration’s America the Beautiful initiative.

Entries Open for Neptune Awards

The Marine Marketers of America is accepting submissions for its annual contest in 23 categories through Dec. 6.

CSP Joins ‘Thirty by Thirty’ Coalition

The Center for Sportfishing Policy and 54 coalition members submitted recommendations for the Biden Administration’s America the Beautiful initiative.

Take Action Now

We must take action to push Congress to reauthorize the Sport Fish Restoration and Boating Trust Fund. Here’s how you can help.

Southern Marinas Acquires Missouri Facility

Millstone Resort and Marina on Lake of the Ozarks is the fifth addition this year to the company’s portfolio.

Forbes Names Brunswick a World’s Best Employer

Brunswick ranked in the top 15 percent overall and in the top 10 for companies in the engineering and manufacturing category.

Fountaine Pajot Names Dealer

Atlantic Cruising Yachts Texas is the French builder’s exclusive representative for the Gulf Coast.

KingFisher Boats, Barnacle Form Partnership

The boatbuilder will offer Barnacle’s BRNKL remote monitoring system on several model year 2022 boats.