Bigplumbs
Well-Known Member
Agreed. It is also dishonourable and immoral. Two things all society is based upon. The modern world seems to have forgotten these 2 principals and we are the worse off for it
Dennis
Hunton ... Sad News
- Thread starter LAMBADA
- Start date
Agreed. It is also dishonourable and immoral. Two things all society is based upon. The modern world seems to have forgotten these 2 principals and we are the worse off for it
Dennis
Ian h
Well-Known Member
Have also heard today from a couple of employees that worked at Hunton that this is true.
The workers were told on Monday.
Jack Haines
MBY Deputy Editor
Link to our story here: http://www.mby.com/news/hunton-powerboats-goes-voluntary-liquidation-81161
Information is thin on the ground and no one is willing to go on the record but we are digging and will update the story as and when.
Information is thin on the ground and no one is willing to go on the record but we are digging and will update the story as and when.
JumbleDuck
Well-Known Member
<cough>Southerly<cough>
z1ppy
Well-Known Member
Very sad to see and as a former owner I am very happy to have had one.. maybe another one day.
I will wait for the details to come out before commenting further. Maybe we will be surprised here. I don't hear the cry of many suppliers saying they are out of pocket yet.
I will wait for the details to come out before commenting further. Maybe we will be surprised here. I don't hear the cry of many suppliers saying they are out of pocket yet.
[164147]
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Was yours an XRS37?
petem
Well-Known Member
When I said 'honest' in my earlier post, I was using the word in the context of 'straighforward'.
I'm not condoning a pre-pack arrangement but before using words like 'dishonourable and immoral' I'd make the following points...
1) I understand Hunton called the administrators in themselves and that there are no customers or suppliers who are reported to be out of pocket. in sincerely hope this is the case.
2) For all we know, Hunton may have themselves been shafted and have ended up in the current position through no fault of their own.
3) If there are any creditors then nobody forced supplier's to give credit to Hunton.
4) We've seen in recent boat builder failures that some suppliers who get caught out as unsecured creditors go on to 'pre pack' themselves.
5) Free of any debt that Hunton may have, they may still have a viable business going forward.
jfm
Well-Known Member
IF this is a voluntary liquidation as stated in MBY report, then it isn't a prepack. Unless and until it switches to insolvent, which seems not to be the case currently, you can't logically conclude that any suppliers are substantially suffering. There is (as of this morning, and only via an industrial strength information service) no sign of anything at all filed at uk companies house for either the boat builder company or its parent company. for now I'm just staying tuned.
D
Deleted User YDKXO
Guest
Easy to say but very often you dont have a business unless you do. Its a fact of life in many sectors
D
Deleted User YDKXO
Guest
petem
Well-Known Member
Yep easy to say but surely a supplier must realise that continuing to supply materials and service to a customer, with little chance of see any payment for it is actually worse than refusing to supply? And any business that is reliant on a very small number of customers (in a single sector) isn't a great one is it?
PowerYachtBlog
Well-Known Member
Its been so much off and on for Hunton. Each time they reopen you would expect them to close again after five years.
They where winning races in the eighties, they could have if evolved correctly become the British Magnum or the British Itama.
Somehow it never worked out for them. Pity the hulls on the stern drive boats, are possibly the best fast hull to come from a British production builder.
But at some stage you cannot keep on building with the same recipe. At some point you have to evolve into something new.
I mean even the ribs where days boats with a small cabin.
Hunton needed to evolve in the nineties as Magnum did in the seventies, somehow it never happened. I think if the company did that it would be a legend nowadays.
They where winning races in the eighties, they could have if evolved correctly become the British Magnum or the British Itama.
Somehow it never worked out for them. Pity the hulls on the stern drive boats, are possibly the best fast hull to come from a British production builder.
But at some stage you cannot keep on building with the same recipe. At some point you have to evolve into something new.
I mean even the ribs where days boats with a small cabin.
Hunton needed to evolve in the nineties as Magnum did in the seventies, somehow it never happened. I think if the company did that it would be a legend nowadays.
D
Deleted User YDKXO
Guest
Again easy to say Pete but harder to put into practice. Of course nobody in their right mind supplies goods or services to a customer if they don't confidently believe they are going to get paid for them and most businesses operate some sort of credit control. But I can tell you from personal experience that it is very difficult to stop supplying long established customers just because their payment is late that month when they've got a good credit record in the past. In many businesses, there is always a balance between operating sound credit control and retaining a customer. As for being reliant on a small number of customers, again easy to say but hard to put right. Its usually much easier and more profitable to keep selling to your existing customers than go out chasing new ones. Its human nature
petem
Well-Known Member
Agreed.
jfm
Well-Known Member
the uk companies registry is accurate though, apart from a couple of days delay. As of late this afternoon there are no relevant filings that I can see. The statements above about "administrators" seem to be speculation rather than soundly based. A voluntary liquidation scenario is completely different from an administration scenario.Yup fair comment although MBY are not noted for their accurate financial journalism
Ian h
Well-Known Member
And if you think back to when Hunton started around the same time as Sunseeker. And look where Sunseeker are now
Whitelighter
Well-Known Member
That's because RB understood brand and marketing.
Tell anyone not into boating you own a motorboat and the majority will ask if it's a sunseeker
Ian h
Well-Known Member
Agree but think Jeff built boats so that others could share what he enjoyed,
Hunton have not really developed any new models in the last 10 + Years
PowerYachtBlog
Well-Known Member
They started a bit different and later to be fair. Still important to say they existed and wer established when the others started to expand in the eighties.
Hunton started a bit later nine years later to Sunseeker 1970 and they actually started as race boats if I remember well. or at least that was the first development.
Sunseeker with all its good became to big to handle which is why RB do not own it anymore.
Somehow I think you British sometimes want to be to much industrial like the Germans???? Are you sure its good idle for a boating builder to be this way.
stelican
Well-Known Member
Yeh but the debts are a bit different!
