Hunton ... Sad News

LAMBADA said:
Another death of a quality UK brand.
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Not necessarily. I'm not saying it will happen like this but it is possible its a planned prepack administration out of the ashes of which a new phoenix Hunton (2016) company will arise leaving the company free of liabilities and with only a few poor suppliers left scratching around for their penny in the pound. Or given that the Hunton brand name has some residual cachet somebody with more money than sense and who fancies running a boatbuilding company might come along and buy the assets from the administrator. Either way its too early to say Hunton has died
 
Deleted User said:
Not necessarily. I'm not saying it will happen like this but it is possible its a planned prepack administration out of the ashes of which a new phoenix Hunton (2016) company will arise leaving the company free of liabilities and with only a few poor suppliers left scratching around for their penny in the pound. Or given that the Hunton brand name has some residual cachet somebody with more money than sense and who fancies running a boatbuilding company might come along and buy the assets from the administrator. Either way its too early to say Hunton has died
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Well in a way an honest pre-pack is a lot better than it being bought by some Dominic Chappell / Walter Mitty chap for £1. Let's hope the brand and assets find an enthusiastic buy and the opportunity to wipe the slate clean is enough the resurrect the business.
 
petem said:
Well in a way an honest pre-pack is a lot better than it being bought by some Dominic Chappell / Walter Mitty chap for £1. Let's hope the brand and assets find an enthusiastic buy and the opportunity to wipe the slate clean is enough the resurrect the business.
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There is nothing honest about a prepack, Pete. It is a way of walking away from your liabilities and starting up again as exactly the same operation leaving the suppliers and other creditors of the old company in the lurch. The directors of the failed company walk away scot free and start up again and the creditors of the previous company either take the financial hit or go bust themselves. Almost the unacceptable face of capitalism I would say
 
Deleted User said:
There is nothing honest about a prepack, Pete. It is a way of walking away from your liabilities and starting up again as exactly the same operation leaving the suppliers and other creditors of the old company in the lurch. The directors of the failed company walk away scot free and start up again and the creditors of the previous company either take the financial hit or go bust themselves. Almost the unacceptable face of capitalism I would say
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Sorry, 'honest' was perhaps not the right word but you know what I meant. At least a pre-pack 'is what it is' and people understand where they stand unlike BHS and another company that I won't mention.

As ever, I hope none of the creditors weren't too badly impacted and are able to recover.
 
petem said:
Sorry, 'honest' was perhaps not the right word but you know what I meant. At least a pre-pack 'is what it is' and people understand where they stand unlike BHS and another company that I won't mention.

As ever, I hope none of the creditors weren't too badly impacted and are able to recover.
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How will the creditors not be impacted? The Administrators will take the lions share of any value, followed by HMRC. Honest suppliers will get any scraps.........if there are any.
 
Deleted User said:
There is nothing honest about a prepack, Pete. It is a way of walking away from your liabilities and starting up again as exactly the same operation leaving the suppliers and other creditors of the old company in the lurch. The directors of the failed company walk away scot free and start up again and the creditors of the previous company either take the financial hit or go bust themselves. Almost the unacceptable face of capitalism I would say
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+ 100 no way to do business
 
Sorry I have no link to this news and like you I can't find any info on line but I can asure you that this information comes from the most reliable of sources.

Back to the topic of the Hunton brand:
The news comes as no great surprise as Hunton boats appeal to an extremely limited market and under the direction of Fiona Pool and associates they have probably priced themselves out of the market. They tried to break into the US but too much competition from faster, cheaper brands.
That said, believe me, once owned they are adictive (I am on my second). Very few boats can offer the compromise of performance and practicality (50 knots and 2 twin bedrooms). Build quality and sea keeping is second to none, I have previously owned Princess V42 and V45s the build quality (although good) doesn't come close to Hunton and for my eyes nothing on the market today can compete on looks.
I hope the brand will live on, maybe Jeff
Hunton will step back in.
 
No mention of it on the web site, and nothing appears in a google search.... I thought the fact that a firm was in administration had to be plastered all over the place so that suppliers and customers are fully aware of the situation.
 
LAMBADA said:
Back to the topic of the Hunton brand:
The news comes as no great surprise as Hunton boats appeal to an extremely limited market and under the direction of Fiona Pool and associates they have probably priced themselves out of the market. They tried to break into the US but too much competition from faster, cheaper brands.
That said, believe me, once owned they are adictive (I am on my second). Very few boats can offer the compromise of performance and practicality (50 knots and 2 twin bedrooms). Build quality and sea keeping is second to none, I
I hope the brand will live on, maybe Jeff
Hunton will step back in.
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I agree they appeared to have very much overpriced themselves I believe the 37 was around £375K Ex VAT and the 43 was around £600K Ex VAT ,

I wonder if Jeff would take it back .

I have owned mine since 2009 and as you say they are great sea keeping and and great performance,
Maybe not as quick as some US boats but plenty quick enough.
 
Not only do creditors lose out but so to do customers. Not only is warranty lost but any rights under consumer law if they purchased directly from Hunton. When Dickies went under I lost some critical legal rights which would have been useful
 
I fully agree that this idea of a pre-pack is somehow an honest option is complete bollocks. Certainly not for the person left holding an empty invoice.

Some of these 'honest joes' are so brazen they will then expect the very same folk to give them further credit. Amazingly some of them do, on the fools idea they will make it up on the next job - that never happens !

I would be looking to send the boys round to explain in a way they might better understand what is and is not acceptable in business. I don't doubt they will have hard luck stories, buts so do the innocent people they have swindled.
 
Cruel fortune, just when the £ sinks, making Brit manufacturing even more compelling.
My first boat was Hunton's 9m RIB, my second an RS43 I took to the Med.
Thoroughly enjoyed her speed and economy.
But living on board a missile really is a challenge and in the Med, no one's in a hurry!
And I learned so much: including a pathalogical dislike of stern drive propulsion combined with a four lever helm!
Loving my Targa 52 now and so far as I can tell, my Hunton is back Solent bashing with her original loving family.
Values in my mind are unlikely to fall, now rarity may well become an asset.
 
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