Assets of US boatbuilder to be liquidated; Nautic Global Group, America's fourth-biggest builder, expected to bid for the firm
Crownline Boats is to be liquidated in an auction next week in Chicago after falling into difficulty.
A classified ad posted in the Chicago Tribune says the auction for all Crownline’s assets will take place on 7 August at the offices of law firm Proskauer Rose.
Crownline fell into difficulty last year after seeing sales slump, and announced a factory shutdown in December.
The plant was expected to reopen in March, but the shutdown was extended until June.
But when June came, the company announced that the factory, in Franklin County, Illinois, would remain shuttered.
The assets to be sold include all of Crownline’s machinery, equipment, tooling, fixtures, moulds, furniture, intellectual property, computer equipment, operating systems, accounts receivable, raw and finished goods inventory and customer information.
It is understood that Nautic Global Group, America’s fourth-biggest boatbuilder, is interested in acquiring the assets to keep the Crownline brand alive.
