Bavaria next to go?
Looks like Bavaria is in rather deep financial trouble. Buyers beware of warranties that can't be backed up and deposits that may be lost to creditors.
Bavaria Yachtbau: Among the deals heading for the rocks - Times Online
Sounds like Bain was hoping for another Hinckley deal.
While the article paints a gloomy picture, if you get into the details it looks like Goldman Sachs is the one that is most at risk on this one -- Bain seems to have negotiated very lenient credit terms for this LBO of Bavaria. Bain has a good track record for coming out ahead...
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