My own anecdotal evidence as to possibly why IP had to shut down is as follows.
Several years back I was at a boat show
with my naval architect/boat builder
buddy. He comes from the old country so his view of what to expect form "higher end" product" or what constitutes a higher end product is a bit different I guess.
After spending about 1/2 hour on IP38 (which according to me telling him was probably the top manufacturer represented at that boat show) and going into nooks and crannies (he does that first as it gives him a better sense of the builder
than any shiny piece of furniture or hardware) he pronounced the boat "overpriced" for the quality of workmanship she exhibited in these rarely accessed places. His comment was that for $500K he would not want to be afraid of cutting his skin if he stroked the underbelly next to the locker lid or some such. It was an eye opener for me as I remember working in the cockpit
underbelly of my 35 year old boat and not in one place was I afraid to be cut by sharp leftover fiberglass
fibers or strands.
I don't know if this was a result of a company desperately trying to cut costs while clinging to an image of a "well built boat" or just issues with the workforce or QA department missing to check up on these things. But to send your flagship model to a boat show
in such a state my friend found unacceptable at that price
level. Or even if the boat was "only" $200K.