A_8
Well-Known Member
J
Nordwest & Najad bankrupt.
- Thread starter A_8
- Start date
gjgm
Well-Known Member
I thought Nordwest only took over Najad a couple of months ago?
Well, seems the vogue these days.. go bankrupt and dump your debt onto someone else for a write off, then back to buisness we go.
Edit.. godammit.. just checked their web page and I want one of those 430 sports...half price today, surely !
Well, seems the vogue these days.. go bankrupt and dump your debt onto someone else for a write off, then back to buisness we go.
Edit.. godammit.. just checked their web page and I want one of those 430 sports...half price today, surely !
Last edited:
Talulah
Well-Known Member
Najad were taken over by NordWest 18 months ago
Malo Yachts are also in Administration
It would be nice to know what went wrong. Is not as if the economy was any surprise 18 months. Was it misjudged expectations? A one of incident? Mismanagement? Cancellations?
Would any new owner be in a better position to write off even more debt?
Curious as to what can be learnt from this.
Malo Yachts are also in Administration
It would be nice to know what went wrong. Is not as if the economy was any surprise 18 months. Was it misjudged expectations? A one of incident? Mismanagement? Cancellations?
Would any new owner be in a better position to write off even more debt?
Curious as to what can be learnt from this.
Bandit
Well-Known Member
A_8
Is this a fact or a rumour, what information is this post based on ?
Is this a fact or a rumour, what information is this post based on ?
Talulah
Well-Known Member
Nord west / Najad filed for bankruptcy yesterday in uddevalla court.
A_8
Well-Known Member
It was published in the #1 swedish business papper www.di.se this morning.
Regarding why now there was a comment that the order situation was far worse than expected following the new year.
Sorry about the doublepost, there was something wrong with the forum. I posted but it did or show so I did it again.
Talulah
Well-Known Member
Translation of the article posted in www.di.se via Google Translate
Pleasure boat manufacturer Nord West & Najad in Henan on Orust have filed for bankruptcy. The company is one of Scandinavia's largest boat builders. It is unclear what bankruptcy means for business.
According to the company website it launched a new boat model boat show in Gothenburg a few weeks ago.
The company was formed when the boat manufacturer North West in October 2012 purchased sailboat manufacturer Najad, bankrupt, 2011.
When broadened range of luxury motor yachts and sailing yachts that cost between 4 and 6 million, writes Göteborgsposten online.
"When we got the opportunity to buy a premium brand, we hit to. They have about the same customers that we and also is myself sailboat builders," said North West's founder and CEO Benny Martinsson when to Di.
Najad had built boats in Henan on Orust in 40 years when the bankruptcy was a fact 2011th
Nord West & Najad has upwards of 140 employees and a turnover of over 300 million.
"The last three years, 60-70 percent of all jobs in the marine industry have disappeared. During this difficult time, the North West is not terminated any employees, but now they have therefore filed a bankruptcy petition," said GS unions negotiator, Kenneth Edvardsson to GP.
"The main thing now is to try to secure the employees' salaries as soon as possible. Since the bankruptcy trustee to form an opinion on how the company looks like, and if there is any opportunity to push it further in some form."
Uddevalla District Court granted the petition for bankruptcy and appointed attorney Frederick Tengström to the bankruptcy trustee.
"He's going to put a business plan for bankruptcy, so to speak., I guess the current production will continue," said Jan Save, Chairman of the North West & Najad, said.
According to SAVE, the company's sales plummeted after the New Year. His assessment is that the business needs to bring in some new owners, who can finance it.
"Then there are the right good prospects that it can continue," said Jan Save.Undo editsAlpha
Pleasure boat manufacturer Nord West & Najad in Henan on Orust have filed for bankruptcy. The company is one of Scandinavia's largest boat builders. It is unclear what bankruptcy means for business.
According to the company website it launched a new boat model boat show in Gothenburg a few weeks ago.
The company was formed when the boat manufacturer North West in October 2012 purchased sailboat manufacturer Najad, bankrupt, 2011.
When broadened range of luxury motor yachts and sailing yachts that cost between 4 and 6 million, writes Göteborgsposten online.
"When we got the opportunity to buy a premium brand, we hit to. They have about the same customers that we and also is myself sailboat builders," said North West's founder and CEO Benny Martinsson when to Di.
Najad had built boats in Henan on Orust in 40 years when the bankruptcy was a fact 2011th
Nord West & Najad has upwards of 140 employees and a turnover of over 300 million.
"The last three years, 60-70 percent of all jobs in the marine industry have disappeared. During this difficult time, the North West is not terminated any employees, but now they have therefore filed a bankruptcy petition," said GS unions negotiator, Kenneth Edvardsson to GP.
"The main thing now is to try to secure the employees' salaries as soon as possible. Since the bankruptcy trustee to form an opinion on how the company looks like, and if there is any opportunity to push it further in some form."
Uddevalla District Court granted the petition for bankruptcy and appointed attorney Frederick Tengström to the bankruptcy trustee.
"He's going to put a business plan for bankruptcy, so to speak., I guess the current production will continue," said Jan Save, Chairman of the North West & Najad, said.
According to SAVE, the company's sales plummeted after the New Year. His assessment is that the business needs to bring in some new owners, who can finance it.
"Then there are the right good prospects that it can continue," said Jan Save.Undo editsAlpha
Bandit
Well-Known Member
That is a great shame.
Nordwest build a nice and well thought out boat.
Nordwest build a nice and well thought out boat.
D
Deleted User YDKXO
Guest
This is very bad news but not surprising considering the burden of strong currencies that the Scandi builders have to deal with on top of a moribund market. Perhaps the only viable long term strategy for Scandi builders is to outsource some manufacturing to lower cost countries as I think Windy have done recently. FWIW I think there will be more bankruptcies and rationalisations in the boat building industry in the future as I don't think the global market for new boats is improving, in fact quite the opposite