Sealine for sale again

  • Thread starter Thread starter Deleted User YDKXO
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I grew up in Kidderminster which, in my day, was famous for carpets but the industry was failing to compete with cheaper imports. Sealine wasn't there then (although my first casual job was working on the site where the factory is now). A stupider place to build boats for the sea is hard to imagine. I feel sad for the workforce but honestly can't see anything other than a few of the designs and tooling being sold to someone and the whole place being shut down.
 
Yet another company in the UK becomes a victim of the big American investment companies. They have absolutely no intention of investing for the next 12 months let alone longer term and future. If they cannot make a quick buck for doing nothing, other than having a few quid in the right thing at the right time, they walk away - leaving a trail of destruction behind.

Loosing £4m on a £33m turnover isn't great of course but it happens and is not unrecoverable, especially when the last few years have been so difficult for everyone and some tweaks to strategy bringing in growth.

In the end it looks like another UK brand sailed down the river (no pun intended!) because some faceless accountant has looked at a portfolio balance sheet and declared closure. I'd be surprised if they knew what Sealine did, where the UK let alone Kidderminster was or how much potential and future profit was in the pipeline.

With the banking situation the way it is, management buyouts are no longer in favour so the best hope we have now is some probably foreign investor picking up the baton, re-evaluating the business plan and carrying on.
 
I'd just like to point out Sealine us in ainisteation, not liquidation. The company can still trade while sorting itself out and hopefully with some serious restructuring will come out of the other side fitter and more able to compete.
 
Whitelighter said:
I'd just like to point out Sealine is in administration, not liquidation. The company can still trade while sorting itself out and hopefully with some serious restructuring will come out of the other side fitter and more able to compete.
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Sealine had a popular range of models and presumably a backer who could afford to invest in the company. But they still couldn't make it work.

With the outlook for the economy looking so grim, I find it hard to see how anyone could make the business viable again, which is a real shame for those owners loyal to the brand and of course the employees. My blame would lie at the door of whoever thought it a good idea to ban red diesel.

Is it time to let Sealine go?
 
petem said:
Sealine had a popular range of models and presumably a backer who could afford to invest in the company. But they still couldn't make it work.

With the outlook for the economy looking so grim, I find it hard to see how anyone could make the business viable again, which is a real shame for those owners loyal to the brand and of course the employees. My blame would lie at the door of whoever thought it a good idea to ban red diesel.

Is it time to let Sealine go?
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Perhaps if they stuck to models like the SC35 rather than developing the poor selling T50/60 they have a future.

I have always seen sealine as a sub 45ft brand - lots can make it work and by all accounts Sealibe did very well with the 35 and the new F380 looked like a cracker.
 
Bbroomlea said:
Yet another company in the UK becomes a victim of the big American investment companies. They have absolutely no intention of investing for the next 12 months let alone longer term and future. If they cannot make a quick buck for doing nothing, other than having a few quid in the right thing at the right time, they walk away - leaving a trail of destruction behind.

Loosing £4m on a £33m turnover isn't great of course but it happens and is not unrecoverable, especially when the last few years have been so difficult for everyone and some tweaks to strategy bringing in growth.

In the end it looks like another UK brand sailed down the river (no pun intended!) because some faceless accountant has looked at a portfolio balance sheet and declared closure. I'd be surprised if they knew what Sealine did, where the UK let alone Kidderminster was or how much potential and future profit was in the pipeline.

With the banking situation the way it is, management buyouts are no longer in favour so the best hope we have now is some probably foreign investor picking up the baton, re-evaluating the business plan and carrying on.
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That loss was 2010/11. Could well have been much bigger losses since then.
 
Whitelighter said:
Perhaps if they stuck to models like the SC35 rather than developing the poor selling T50/60 they have a future.

I have always seen sealine as a sub 45ft brand - lots can make it work and by all accounts Sealibe did very well with the 35 and the new F380 looked like a cracker.
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Maybe but conventional wisdom is that there's no money in makin smaller boats. I'd sure like to see them
design and assemble (if not entirely make) sub 45ft boats. They've made plenty of crackers in that size over the years - s23/25, s28, f33/34, F36/37, f43/44, etc.
 
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Whitelighter said:
Perhaps if they stuck to models like the SC35 rather than developing the poor selling T50/60 they have a future.

I have always seen sealine as a sub 45ft brand - lots can make it work and by all accounts Sealibe did very well with the 35 and the new F380 looked like a cracker.
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Yup - I'm with you on that. It wasn't until I looked at their site as a result of this thread that I realised they'd dumped everything below the SC35 and smallest Fly the F450. Madness for a company who's bread and butter was 30-40' until recently with value for money being key.

Very sad for the 234 laid off today. I cut my boating teeth on an S24 and whilst it was far from perfect I'll always have good memories of that boat.

Let's not forget though that the SC35 has been a huge success - must be an opportunity for somebody to buy designs, moulds etc and build them from a lower cost base which is not likely to be Kidderminster. Maybe one of the other smaller UK builders would see an opportunity to expand their range?
 
petem said:
Maybe but conventional wisdom is that there's no money in makin smaller boats. I'd sure like to see them
design and assemble (if not entirely make) sub 45ft boats. They've made plenty of crackers in that size over the years - s23/25, s28, f33/34, F36/37, f43/44, etc.
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The problems started about the time they went from 3 to 2 digit numbers, ( 330 Statesman to F33 ) there was a change in production and engineering methods, made worse by Tom selling the firm and going of to play golf. The edge that made the difference in making a profit and a loss slowly faded away, as there was less padding in a small boat, they disappeared first.

Brian
 
I would agree with the comment on red diesel. It has, in my opinion, taken a lot of people, potential Sealine people, out of the market. Another triumph for our masters & the EU twot's.
As for those on here who said it would make no difference, you now have a perfect storm. Prohibitive running costs & difficulty finding anyone with enough money to get started in the 1st place.
 
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It's not just red diesel and a poor economy (restrictive lending for businesses and consumers), but **** weather last year and the cost of having to display at two uk boat shows (one of which being held at the back of beyond for much of the uk) which have caused this.

Bit of a perfect storm really.
 
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