Broom or Bust?

[coliholic]

How sad but can anyone really blame the new owners for closing it down?

According to MBY article they only built 6 boats last year so t/o would be in the order of what £3m if each boat went for £1/2m. And they laid off 70 production staff at say avge £25K a year salary (I know it sounds low but they are in Norfolk after all) so their wage bill alone was £17.5m.

And they've got to buy all the materials to build the boats out of the £3m too. Now I'm not an accountant but even I can see there's a problem there.

 

[Deleted User YDKXO]

How sad but can anyone really blame the new owners for closing it down?

According to MBY article they only built 6 boats last year so t/o would be in the order of what £3m if each boat went for £1/2m. And they laid off 70 production staff at say avge £25K a year salary (I know it sounds low but they are in Norfolk after all) so their wage bill alone was £17.5m.

And they've got to buy all the materials to build the boats out of the £3m too. Now I'm not an accountant but even I can see there's a problem there.

F*** me. A wage bill of £17.5m pa. No wonder they went bust. Shurely some mishtake though. That's £250k per worker per year. Not bad work if you can get it

 

[Richard Shead]

I was about

to chuck it all on and get myself down to boat building college...amazing what the odd misplaced comma can do!

 

[coliholic]

F*** me. A wage bill of £17.5m pa. No wonder they went bust. Shurely some mishtake though. That's £250k per worker per year. Not bad work if you can get it

Told you I wasn't an accountant, not even fully trained on using an abacus. So I was a zero out, should have been £1.75m. Oops

 

[Coaster]

...to chuck it all on and get myself down to boat building collage...amazing what the odd misplaced comma can do!

I understand you are a bit of an artist?

Amazing what the odd misplaced letter can do.

 

[Richard Shead]

Yip....

Just saw that, was coming round to correct it but had to do some work..

Its those big fat artist fingers...

 

[sailorman]

The latest information from Brundall is that JonRob's information is spot on, CJ Broom & Son are in the hands of the liquidator whereas Broom Boats continues.

I doubt anybody's surprised that the new boatbuilding side has been losing money compared to a profitable brokerage, marina & aftermarket business. There are certainly staff on site today and they seem to believe that there is a future and that the future will include building new boats though seriously revamped from the current range.

We need to let the dust settle but as a Broom owner I know that I still own a quality product and I'm not concerned about future second hand values - I just look at the prices 20 year old Broom still make!

http://www.ybw.com/forums/showthread.php?t=247795