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post #1 of Old 02-17-2009 Thread Starter
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Boat companies closing

It seems the world wide recession is now starting to bite the boating industry everywhere.

Cookson Yachts in Auckland has announced today that it will be paying off all of its staff when the vessel they are currently completing is done. They have no more orders in the pipeline. For those who don't know, Cookson are the guys who have historically built world class racing boats, including the AC boats for Team New Zealand.

And another iconic NZ power launch builder, Genesis, had announced imminent receivership.

Sounds bad.

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