Challenger boats closing doors.
05-02-2008, 06:15 PM
#11
Registered
They had a nice Euro style in the Miami show.. They do make a great hull. The molds would be worth something. H. Shaull design. They aren't Cigs. but sorry to see them go.
05-02-2008, 06:18 PM
#12
Registered
Chitt.. I can't even read the article. I got this.
www.boating-industry.com/output.cfm?id=1597033 may try to steal your information.
Why were you redirected to this page? When we visited this site, we found it may be designed to trick you into submitting your financial or personal information to online scammers. This is a serious security threat which could lead to identity theft, financial losses or other dissemination of personal information.
www.boating-industry.com/output.cfm?id=1597033 may try to steal your information.
Why were you redirected to this page? When we visited this site, we found it may be designed to trick you into submitting your financial or personal information to online scammers. This is a serious security threat which could lead to identity theft, financial losses or other dissemination of personal information.
05-02-2008, 06:33 PM
#13
Registered
eric
05-02-2008, 06:59 PM
#15
Registered
Thread Starter
Join Date: Oct 2000
Location: Tucson, Arizona, USA
Posts: 208
Likes: 0
Received 0 Likes
on
0 Posts
Here's the article. Challenger bought Sugar Sand and Gekko
in the last year or so, so expect them to be belly up too:
WASHINGTON, Mo. – Boat builder Challenger Powerboats, Inc. and its wholly-owned subsidiaries, IMAR Group, LLC and Marine Holdings, Inc., each filed voluntary petitions for relief under Chapter 7 of the United States Bankruptcy Code on April 25, according to an SEC form 8-K filed earlier this week.
The petitions were filed in the United States Bankruptcy Court for the Eastern District of Missouri, case numbers 08-42946-705, 08-42948-705 and 08-42950-705, respectively, the company reported.
Judge Rendlen has been assigned to the cases and the date jurisdiction was assumed is April 25. The bankruptcy trustee for all three entities is E. Rebecca Case and the date of her appointment is April 25, the form stated.
In connection with the filings, the company has ceased all business activity and operations.
“The company believes that its assets will be insufficient to satisfy the claims of all creditors and it is unlikely that the company's shareholders will be eligible to participate in any distributions of the company's assets as a result of the bankruptcy,” the SEC filing stated. “Upon liquidation, the company will cease operations and wind up its business.”
in the last year or so, so expect them to be belly up too:
WASHINGTON, Mo. – Boat builder Challenger Powerboats, Inc. and its wholly-owned subsidiaries, IMAR Group, LLC and Marine Holdings, Inc., each filed voluntary petitions for relief under Chapter 7 of the United States Bankruptcy Code on April 25, according to an SEC form 8-K filed earlier this week.
The petitions were filed in the United States Bankruptcy Court for the Eastern District of Missouri, case numbers 08-42946-705, 08-42948-705 and 08-42950-705, respectively, the company reported.
Judge Rendlen has been assigned to the cases and the date jurisdiction was assumed is April 25. The bankruptcy trustee for all three entities is E. Rebecca Case and the date of her appointment is April 25, the form stated.
In connection with the filings, the company has ceased all business activity and operations.
“The company believes that its assets will be insufficient to satisfy the claims of all creditors and it is unlikely that the company's shareholders will be eligible to participate in any distributions of the company's assets as a result of the bankruptcy,” the SEC filing stated. “Upon liquidation, the company will cease operations and wind up its business.”
05-02-2008, 07:03 PM
#16
Registered
Platinum Member
Join Date: Nov 2000
Location: Lake Lanier - N. Georgia
Posts: 6,307
Likes: 0
Received 1 Like
on
1 Post
Here's the article. Challenger bought Sugar Sand and Gekko
in the last year or so, so expect them to be belly up too:
WASHINGTON, Mo. – Boat builder Challenger Powerboats, Inc. and its wholly-owned subsidiaries, IMAR Group, LLC and Marine Holdings, Inc., each filed voluntary petitions for relief under Chapter 7 of the United States Bankruptcy Code on April 25, according to an SEC form 8-K filed earlier this week.
The petitions were filed in the United States Bankruptcy Court for the Eastern District of Missouri, case numbers 08-42946-705, 08-42948-705 and 08-42950-705, respectively, the company reported.
Judge Rendlen has been assigned to the cases and the date jurisdiction was assumed is April 25. The bankruptcy trustee for all three entities is E. Rebecca Case and the date of her appointment is April 25, the form stated.
In connection with the filings, the company has ceased all business activity and operations.
“The company believes that its assets will be insufficient to satisfy the claims of all creditors and it is unlikely that the company's shareholders will be eligible to participate in any distributions of the company's assets as a result of the bankruptcy,” the SEC filing stated. “Upon liquidation, the company will cease operations and wind up its business.”
in the last year or so, so expect them to be belly up too:
WASHINGTON, Mo. – Boat builder Challenger Powerboats, Inc. and its wholly-owned subsidiaries, IMAR Group, LLC and Marine Holdings, Inc., each filed voluntary petitions for relief under Chapter 7 of the United States Bankruptcy Code on April 25, according to an SEC form 8-K filed earlier this week.
The petitions were filed in the United States Bankruptcy Court for the Eastern District of Missouri, case numbers 08-42946-705, 08-42948-705 and 08-42950-705, respectively, the company reported.
Judge Rendlen has been assigned to the cases and the date jurisdiction was assumed is April 25. The bankruptcy trustee for all three entities is E. Rebecca Case and the date of her appointment is April 25, the form stated.
In connection with the filings, the company has ceased all business activity and operations.
“The company believes that its assets will be insufficient to satisfy the claims of all creditors and it is unlikely that the company's shareholders will be eligible to participate in any distributions of the company's assets as a result of the bankruptcy,” the SEC filing stated. “Upon liquidation, the company will cease operations and wind up its business.”
05-02-2008, 07:41 PM
#17
Registered
Join Date: Jan 2007
Posts: 534
Likes: 0
Received 0 Likes
on
0 Posts
I don't have anything personal against them but every time I saw them at boat shows they told me how great things were , public traded company , gov't contracts , etc. I never bought those apples and I'll be in the boat business for the next 20 years and then my son can take a stab at it. He's only 7 now - haha.
"they told me how great things were"
Same thing you did in a earlier post....
Seems perhaps you maybe taking glee in others woes. Ever hear of karma?
05-02-2008, 08:11 PM
#19
Brian has Dave moved up yet? Your secret to success is going to be low overhead. Some of these builders are dying due to slow sales combined with high overhead costs.
05-02-2008, 08:19 PM
#20
Registered
Platinum Member
Join Date: Nov 2000
Location: Lake Lanier - N. Georgia
Posts: 6,307
Likes: 0
Received 1 Like
on
1 Post
Yes David has moved here and he's living on my houseboat.The new 41 hull mold is complete. David went back down to wrap up some personal stuff and will be back in a few days. Yea low overhead is what keeps us in the game. All molds , our shop , etc is paid for.
