So Peters Opal has gone pop

[Twister_Ken]

My sympathies are with anyone that has a deposit or stage payments with them. Fingers crossed that they had some sort of escrow account arrangement.

Let's hope the administrators manage to sort it.

 

[Twister_Ken]

Bavaria, Island Packet and Legend for yotties.

Bavaria, Azimut, Rodman and Sealine for motorists.

That's going to cause a bit of a shake-up.

 

[AndyPandy]

oh dear,

we just returned from ipswich last week with our boat.
does this mean our waranty aint worth the paper?
i feel sad if it's the end for them because, despite what some say on here, we have only good things to say about them,

andy

 

[ShipsWoofy]

Does this mean Jimi can refrain from his gagging order now?

 

[Sailfree]

Breaking News " Large area at SIB available!"

Seriously though surely Bavaria and Legends would want to be at SIB for future sales and will cut a deal with the administrators.

Interested in the reason for going pop though - outgrew their management financial reporting or office costs at UK marinas crippled them. Lets not let facts get in the way of good speculation as I am sure the bottom has not fallen out of the market!

 

[Scaramoosh]

They lost Sealine to Ancasta about a month ago, I guess that was the straw which broke the camels back.
We bought our boat from them and had great service - very sad news

 

[Whitelighter]

[ QUOTE ]
Bavaria, Island Packet and Legend for yotties.

Bavaria, Azimut, Rodman and Sealine for motorists.

That's going to cause a bit of a shake-up.

[/ QUOTE ]

Ancasta have Bavaria Motorboats, not Peters. Also, Peters only have (had) the Rodman fisher range, Rodman Yachts are distributed again by Ancasta.

I am not being picky, where administrated coompanies are concerned fact is facts

 

[A_7]

The keel fell off the business.

 

[Whitelighter]

You will find that the stand was probably part paid for by avaria anyway. I have no doubt they will be there, though the English used on the stand may have a distinctly Germanic twang.

 

[Seven Spades]

Who has the financial might to take over the business as a going concern? Beneath everything opal sold a lot of yachts and a smaller volume higher margin model is obviously required to ensure a future. If it cannot be taken over as a whole every make will need a new distributor. Portway perhaps?

 

[temptress]

[ QUOTE ]
oh dear,

we just returned from ipswich last week with our boat.
does this mean our waranty aint worth the paper?
i feel sad if it's the end for them because, despite what some say on here, we have only good things to say about them,

andy

[/ QUOTE ]

your warranty is from thw manufacturer - so they (Hunter/Bavaria or whoever) should honour it....

 

[LymingtonPugwash]

My sympathies are also with Brian Peters..... I have known Brian for at least 30 years and spent a number of good nights out on town with him and his crowd when we were all exhibiting at boatshows in the 70's when Brian was still building his business and I knew then what I have seen over the years since, that Brian is a man of integrity who will do everything in his power to ensure that his customers come out of all this better than he does!
Brian has done a tremendous amount for the British yachting industry over the decades and more recently as President of the British Marine Federation and our thoughts should also be with him and all his people who are affected. I believe that Brian and his people will lose a lot more than they will allow their customers to lose.

 

[Will_M]

How refreshing... And well said.

 

[Norman_E]

Sad news, I just hope that the administrators will salvage the business. Directors of companies have to be careful these days because of the danger of getting held personally liable for debts if the company trades whilst insolvent, and prudent directors will call in administrators at an early stage. My definition of insolvency may now be out of date due to changes in the law, but essentially a company was insolvent if it could not pay its debts as they fell due. Nothing at all to do with whether or not there were enough assets in total to meet all the debts.

 

[Moonshining]

How is Peters Opal related to Peters plc who run the boatyard and chandlery at Chichester?

 

[fireball]

Peters Opal is the trading name of B A Peters Plc - so one in the same

 

[Moonshining]

Yeek. That'll be a headache for Premier and the bertholders then unless something gets sorted.

 

[moondancer]

Remember, I think they will have to pay the 1K+ per day per person fees of the administrators before anyone else gets anything.

 

[nicho]

[ QUOTE ]
Yeek. That'll be a headache for Premier and the bertholders then unless something gets sorted.

[/ QUOTE ]

Don't think it will have a major impact on the bertholders. Many went elsewhere anyway for work/maintenance, even boat lifts - a mixture of high prices and poor management attitudes saw to that. There's a myriad of small boatcare/maintenance guys locally, who do a good job at half the price.

Chichester should have been captive market for Peters, but they did little to gain any loyalty.

 

[cookjwm]

Hope not (Portway taking over)