Anyone Know more about Peters Opal?

[MedDreamer]

Thats very sad news for the people concerned.

Anybody got a good overview of whats gone wrong. Did it all start with the Fairline split or was there something amiss before that led to that split?

It always seemed like a relatively good operation to me although I never had any direct dealing with them.

 

[peterb26]

Any particular marginal brand Jez?

 

[Whitelighter]

Not me, don't have the boats to fill the space. But I know that there are loads of small outfits with one or two boats to display who can't get in year after year becuase of the 'big boys'.

We had to fight for a berth on the water for a 24 footer - we were told under no circumstances could we get the 34 any where near the show /forums/images/graemlins/frown.gif

 

[nicho]

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I assume they are also pulling Bav, Island Packet, Rodman Fishers and Azimut out of SIBS then? Gonna leave a bit of a hole in the event.

Or maybe some more marginal brands might get more of a looking in instead...

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Seen the latest in the MBM News section here?

 

[KevB]

It's got to be in Premiers interest to get the Volvo service up and running asap. Having that on your doorstep is one of the bonuses of the marina.

 

[Whitelighter]

[ QUOTE ]
[ QUOTE ]
I assume they are also pulling Bav, Island Packet, Rodman Fishers and Azimut out of SIBS then? Gonna leave a bit of a hole in the event.

Or maybe some more marginal brands might get more of a looking in instead...

[/ QUOTE ]

Seen the latest in the MBM News section here?

[/ QUOTE ]

No, latest thing I can see is the item from Monday?

 

[KevB]

And putting two and two together and coming up with five. I wonder if the red diesel issue has effected boat sales and worsened the situation they were in?
Could be the first casualties of the stupid tax hike??

 

[Whitelighter]

I suspect that their position with over stock on a brand that they have spent the last 20 years slating which is now owned by a pile-em-high-sell-em-cheap US concern was more the issue.

Oh, and that they refused to continue the Sealine trade in policy which put the brakes on sales overnight.

 

[rickp]

Odd - I did read a news article which said they were pulling out of the show, but its gone now it seems.....

Rick

 

[Neddie_Seagoon]

Interesting to hear that you have good service from them, My only experience with them was last year's SIBS, and I was totally underwhelmed, I wouldn't have bought anything from them ever on the basis of that contact, there was simply no interest on their part.

Always sad when an employer goes under. IMX a more customer focused sales team might have helped.

 

[KevB]

This Link

 

[rickp]

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This Link

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No, there was a more recent story than that - which seems to have been pulled...

Rick

 

[KevB]

It does say

"it is believed they have pulled out of the Southampton Boat Show."

 

[rickp]

[ QUOTE ]
It does say

"it is believed they have pulled out of the Southampton Boat Show."

[/ QUOTE ]

Indeed - probably my feeble memory then...

Rick

 

[nicho]

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[ QUOTE ]
This Link

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No, there was a more recent story than that - which seems to have been pulled...



Ah, didn't see that one, what did it say??

Incidentally, surely, the likes of Rodman, Bavaria Yachts and Island Packet will want to keep their presence at SIBS?

 

[Nautorius]

Kev,

A business does not get £29m in to the red overnight. Remember there should be assets (Boats, buildings land) which may not be as liquid as cars and people to get rid of. Looking at their stock they have about £8m at cost so it is not the cost of the stock that has killed them. I would guess they ran out of operating income due to poor sales and tried to hold on borrowing against there assets. When they lost Sealine they were finished off. Amazing they did not bite the bullet sooner and downscale.

Anyone know what happened to the large (75ft?) royal blue Denship they had?

Cheers

Paul /forums/images/graemlins/cool.gif

 

[rubberduck]

I think you have to take into account the weather, higher interest rates & the red diesel hike as an overall triple problem, which will test everybody!
I am in the transport industry and we have been noticing many customers struggling for a couple of years, which we get over by bringing in more customers & offering more services to both new and old clients. Could things be getting bad out there. Why else would that stupid little scottish twit of dubious habits be considering challenging his rivals early. (careful choice of words) /forums/images/graemlins/grin.gif

 

[Will_M]

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Odd - I did read a news article which said they were pulling out of the show, but its gone now it seems.....

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You did, it was this.

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Rumours are surrounding giant UK brokerage Peters Opal, the agents for Bavaria and Legend yachts. Agencies dealing with them are being told they will not be paid for works carried out and it is believed they have pulled out of the Southampton Boat Show.

PO Chairman Brian Peters was unobtainable today. He is also President of the British Marine Federation.

The huge concern with offices all over the UK and in many parts of Europe were fielding calls via an answerphone in Chichester.

[/ QUOTE ]

Personally this news sucks, bad news for the area, worse news still for the industry and not least such horrible news for those employed.

You just know the 'air-waves' are going to be rife with gossip and, sadly plenty of hearsay, for months following this.... If 'this' is how it ends?

None to pleasant for any of them having to contend with all the rumours and uncertainty, I know I’ve been there, briefly as it turned out.

The place, especially so the yard, has a great team and in the main could offer-up bloody great service by the bucket load.

Such a waste.

Confirmed now that financial services firm KPMG told MBM it was appointed as the administrator earlier today.

 

[StewartC]

Latest

More news expected within the hour.

 

[Whitelighter]

Well, hopefully the business can be restructured and slimmed down to be sold as a going concern. I feel for all the staff, having been through this with a company I worked for it is not a nice experience.