Join Date: Dec 2000
Thanked 0 Times in 0 Posts
Rep Power: 17
Prout Catamarans Went Bankrupt
Some more digging brought up the following tidbits in Yachting Monthly and BoatingIndustry.com. Apparently, the 5,000 manhours Prout Catamarans needs to finish a 38 footer cut into profits.
"According to Larroux... every boat sold in the past two years...sold at a loss."
Ooops. I guess we can''t make up that shortfall via increased production.
The Yachting Monthly article went on to state that Prout UK is going to "take delivery of two hanger buildings which should help increase capacity: "With the two semi-permanent hangers we hope to up production to about 50-60 boats a year"
OK, the company just went bankrupt, now they''re expanding into new hangars? Something doesn''t smell right in the state of Denmark. Besides this expansion and the retrenchement on the number of models they''re building, Prout Catamarans apparently will no longer offer kit boats.
Best of all, Prout Catamarans US owners Quest are looking for additional US dealers besides Advanced Yachts. Perhaps having a dealer actually survey boats on arrival AND hold Prout Catamarans to ABYC standards is a bit too much of a pain in the rear? Too bad AY wasn''t on watch when our boat was delivered (whistful smile).
Best of all, Prout Catamarans claimed to be on solid ground as late as July 2000 before being bought by Quest in August. While payment difficulties were denied as early as 1999, suppliers were praised for standing by the company by Mr. Underwood when the deal was announced. All of the articles seem to point to payment difficulties in 1999, when a Liquidator called Pullig and Co was apparently appointed to Prout Catamarans in Canvey Island 15/09/99... Yikes!
Constantin von Wentzel