Skip to main content

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

1_CMTA.KAWECKI

CMTA Names Managing Director

The trade organization promoted Jen Kawecki, who will help grow its membership and support the Hartford Boat Show.

1_FALLBOATSHOW

AIM Announces Connecticut Fall Boat Show

The show, organized by Active Interest Media, will kick off Oct. 7 in Branford at Bruce & Johnsons Marina.

1_MARINEMAX.IBY

MarineMax to Acquire IGY Marinas

The $480 million transaction gives the company a collection of marina assets and a yacht management platform in key yachting destinations around the world.

1_BRP

BRP Launches Multiple New Products

The company debuted Rotax outboards, new Manitou and Alumacraft models and an electric hydrofoil board.

1_EVERGLADES

Everglades Hires Director

Caroline Cozier will lead the company’s sales initiatives in the Northeast, Mid-Atlantic, Great Lakes and Canada.

1_DEALEROUTLOOK

Three Great Ways To Tick-Off Your Customers

As boat sales normalize, it’s essential to keep the customers you have. Here’s what not to do.

1_CHAPARRAL

Buck Pegg Turns 80

Flags were flown at the Georgia State and U.S capitols in honor of the Chapparal Boats founder’s birthday.