Do marinas ever go bankrupt?

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All other sectors of the boating industry seem to have businesses that come and go, look at builders, sailmakers, chandlers, electronics manufacturers, engine manufacturers etc. But marinas, they just seem to come.

I've never seen an abandoned derelict marina that failed because of bankruptcy. Even after Maryport marina was appaulingly managed a few years ago and then faced competition from Whitehaven just down the coast, it still carried on.

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[byron]

<font color=blue>Possibly because of the Freehold value?

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[pvb]

Burnham?

Burnham Yacht Harbour was sold off just a few months ago, reputedly by the bank which owned their huge debts. It was bought by the owners of Shotley Marina, which I believe might also have been the subject of a similar situation some years ago.

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[Guest]

Yes .... nm

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<hr width=100% size=1>Nigel ...
Bilge Keelers get up further ! I only came - cos they said there was FREE Guinness !

 

[PeterGibbs]

Shotley on the Orwell is a good case in point; it failed shortly after opening. But that was due to over enthusiastic investment in engineering, locks etc. Almost all other marinas suffer the reverse condition - ie under investment, so run little risk of insolvency!

Given the rise in rates charged in recent years, I would think the cash flow in most cases looked pretty good. A better bet than Marconi, Reuters, BT.........

PWG

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[snowleopard]

regularly.

the trick is to wait till someone builds a marina, over-extends their finances then goes bust paying the interest. business goes down the tubes, bank as preferred creditor flogs the assets cheaply to recover its loans, rest of the investors get screwed and the new owners make a comfortable living on a much smaller capital investment.

simple really.

and no, i'm not naming names.

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