Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 24-05-2007, 18:18   #1
Registered User

Join Date: May 2003
Location: East Coast & Other Forums!
Posts: 913
Pacific Seacraft/ Saga Bankrupt

Holy Cow...check this out from another board. Very sad...

It is true that Pacific Seacraft Corporation filed for Chapter 11 bankruptcy on May 8, 2007 in the U.S. Bankruptcy Court Central District of California in Santa Ana, CA. There is a hearing scheduled for June 21, 2007 at 10 a.m. in Santa Ana. The case number is 0711326. This was referenced on the Dana owner’s site on Yahoo and had apparently been mentioned earlier on the Flicka site. When I first read it, I had my daughter – a lawyer in CA – run a search on a legal database, and she found and forwarded me a copy of the filing data, containing the above information and the name of their attorney. So the information you have been hearing is true. Let’s hope they have a successful reorganization and come out all the stronger for it. It, however, unfortunately helps explain the many issues all of us have been facing in recent years in dealing with PSC .
__________________

__________________
camaraderie is offline   Reply With Quote
Old 14-08-2007, 06:43   #2
Moderator Emeritus
 
GordMay's Avatar

Join Date: Mar 2003
Location: Thunder Bay, Ontario - 48-29N x 89-20W
Boat: (Cruiser Living On Dirt)
Posts: 31,571
Images: 240
My original post was a copyright infringement & plagiarized copy of an article published in “The Log”.
The original source may be found at:
Pacific Seacraft Faces Liquidation under Chapter 7 Bankruptcy
LOG NEWS SERVICE < California boating guide-news & classifieds > - Thursday, August 09, 2007
Copyright © 2007 Duncan McIntosh Company, Inc., All rights reserved
Goto: California boating guide-news & classifieds
__________________

__________________
Gord May
"If you didn't have the time or money to do it right in the first place, when will you get the time/$ to fix it?"



GordMay is offline   Reply With Quote
Old 14-08-2007, 08:25   #3
Senior Cruiser
 
Vasco's Avatar

Cruisers Forum Supporter

Join Date: Apr 2004
Location: Toronto
Boat: CS36Merlin, "La Belle Aurore" Ben393 "Breathless"
Posts: 7,130
Gord,

When did this happen? I read somewhere else they had found funding and were completing a new Bob Perry design.
__________________
Rick I
Toronto in summer, Bahamas in winter.
http://groups.yahoo.com/group/beneteau393/
Vasco is offline   Reply With Quote
Old 14-08-2007, 09:29   #4
Moderator Emeritus
 
GordMay's Avatar

Join Date: Mar 2003
Location: Thunder Bay, Ontario - 48-29N x 89-20W
Boat: (Cruiser Living On Dirt)
Posts: 31,571
Images: 240
Filed Chapter 11 in May.
Chapter 7 hearing August 22.
You're right about the recent aquisition of Saga, and the Perry design. My how things change ...
__________________
Gord May
"If you didn't have the time or money to do it right in the first place, when will you get the time/$ to fix it?"



GordMay is offline   Reply With Quote
Old 14-08-2007, 10:26   #5
Senior Cruiser
 
Vasco's Avatar

Cruisers Forum Supporter

Join Date: Apr 2004
Location: Toronto
Boat: CS36Merlin, "La Belle Aurore" Ben393 "Breathless"
Posts: 7,130
It's interesting that the present CEO of Pacific Seacraft was managing CS Yachts when they ceased production in the early nineties. He then founded Saga who closed their doors in St. Catherines recently and apparently went to Pacific Seacraft who are now embroiled in bankruptcy proceedings.
__________________
Rick I
Toronto in summer, Bahamas in winter.
http://groups.yahoo.com/group/beneteau393/
Vasco is offline   Reply With Quote
Old 15-08-2007, 07:33   #6
Moderator Emeritus
 
GordMay's Avatar

Join Date: Mar 2003
Location: Thunder Bay, Ontario - 48-29N x 89-20W
Boat: (Cruiser Living On Dirt)
Posts: 31,571
Images: 240
Another one in trouble ?

Peters Opal:
Rumours are circulating that Peters Opal < New & Used Power Boats and Yachts for Sale from Peters Opal - Bavaria, Legend, Island Packet, Sealine, Rodman, Azimut >, one of Europe's largest boat dealers (Bavaria, Legend, Azimut, Rodman and Island Packet yachts, etc), is facing extreme cash flow problems, and may go into "administration".
Goto:
130 made redundant at Peters Opal
__________________
Gord May
"If you didn't have the time or money to do it right in the first place, when will you get the time/$ to fix it?"



GordMay is offline   Reply With Quote
Old 15-08-2007, 07:45   #7
Moderator Emeritus
 
GordMay's Avatar

Join Date: Mar 2003
Location: Thunder Bay, Ontario - 48-29N x 89-20W
Boat: (Cruiser Living On Dirt)
Posts: 31,571
Images: 240
Allan Poole's cv includes: MG, CS, Tartan, Hinterhoeller, Saga Yachts, & finally Pacific Seacraft.
SAGA 409 Boat Reviews
__________________
Gord May
"If you didn't have the time or money to do it right in the first place, when will you get the time/$ to fix it?"



GordMay is offline   Reply With Quote
Old 10-10-2007, 15:45   #8
Registered User

Join Date: Oct 2007
Posts: 4
Building Boats Again

They are building boats again (and taking orders) in Washington North Carolina. Molds and tooling are being shipped from Fullerton except Dana 24 molds which went to Oregon I think. New owners are very enthusiastic, made a terrific impression on industry and public at US Sailboat Show last week. Dealer network remains basically intact.

Hull and deck of a new PS31 are complete, new 40 and new 37 to follow. Bill Crealock had a lot to do with the sale of the company to this particular individual, Mr. Brodie, who attended the auction not expecting to land the big prize but hopeful. He got it. Hooray for Bill...

Allan Poole is gone from the scene.

Saga molds and assets have been split off and I am not sure exactly what is next for them. I believe new ownership of the company is Canadian.

It is going to take a little while for the new PS to get cranked up especially marketing so don't expect wild publicity campaigns or a fancy website just yet...but the new owner is the real deal so PS owners you can exhale now. They have leased factory space in Washington NC which has a good pool of local building talent.
__________________
crealockfan40 is offline   Reply With Quote
Old 11-10-2007, 04:31   #9
Moderator Emeritus
 
GordMay's Avatar

Join Date: Mar 2003
Location: Thunder Bay, Ontario - 48-29N x 89-20W
Boat: (Cruiser Living On Dirt)
Posts: 31,571
Images: 240
Stephen (Steve) Brodie bought Pacific Seacraft yachts, include tooling, moulds and six unfinished hulls, at the September 18Th auction.
Brodie has been a treasure hunter, historic vessel restorer, & marine archeologist - and now a yacht builder.
__________________
Gord May
"If you didn't have the time or money to do it right in the first place, when will you get the time/$ to fix it?"



GordMay is offline   Reply With Quote
Old 11-10-2007, 05:15   #10
Registered User

Join Date: Apr 2006
Boat: MacGregor 26M Lynx
Posts: 352
I wonder if the Flicka is comming back?
__________________
Lynx is offline   Reply With Quote
Old 11-10-2007, 16:04   #11
Registered User
 
Sunspot Baby's Avatar

Join Date: May 2003
Location: New Bern, NC
Boat: Prout Manta 38' Catamaran - Sunspot Baby
Posts: 1,521
Images: 14
See the article in the San Diego Log at California boating guide-news & classifieds
__________________
She took my address and my name
Put my credit to shame
Sunspot Baby, sure had a real good time
Bob Seger
Sunspot Baby is offline   Reply With Quote
Old 11-10-2007, 16:45   #12
CF Adviser
Moderator Emeritus
 
TaoJones's Avatar

Cruisers Forum Supporter

Join Date: Dec 2006
Location: Montrose, Colorado
Posts: 9,850
Quote:
Originally Posted by Sunspot Baby View Post
See the article in the San Diego Log . . .
Actually, The Log, Socal's #1 Boating and Fishing Newspaper, is based in Irvine (Orange County), but it is available in San Diego.

TaoJones
__________________
"Your vision becomes clear only when you look into your own heart. Who looks outside, dreams; who looks within, awakens."
Carl Gustav Jung (1875-1961)
TaoJones is offline   Reply With Quote
Old 11-10-2007, 17:21   #13
Registered User

Join Date: Apr 2006
Location: Galveston
Boat: C&C 27
Posts: 724
Quote:
Originally Posted by Lynx View Post
I wonder if the Flicka is comming back?


That would be interesting. It may have been Mate who reported that the Flicka was discontinued because it cost as much to buil as the Dana.
__________________
Pura Vida is offline   Reply With Quote
Old 11-10-2007, 18:06   #14
Senior Cruiser

Cruisers Forum Supporter

Join Date: Oct 2005
Location: Cruising NC, FL, Bahamas, TCI & VIs
Boat: 1964 Pearson Ariel 'Faith' / Pearson 424, sv Emerald Tide
Posts: 1,531
in an interesting coincedence

Wow,

I was in St. Petersburg less then a week ago, and got to talk with Bruce Bingham for about a hour and a half. He told me PSC was bankrupt.... would sure love it if the new owners started the Flicka production again... what a great boat.
__________________
s/v 'Faith' is offline   Reply With Quote
Old 11-10-2007, 19:33   #15
Registered User
 
Sunspot Baby's Avatar

Join Date: May 2003
Location: New Bern, NC
Boat: Prout Manta 38' Catamaran - Sunspot Baby
Posts: 1,521
Images: 14
Tao, sorry, I spent so long reading it in San Diego that I associate it with that locale.

George
__________________

__________________
She took my address and my name
Put my credit to shame
Sunspot Baby, sure had a real good time
Bob Seger
Sunspot Baby is offline   Reply With Quote
Reply

Tags
pacific seacraft

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Pacific Seacraft 40 Fritz Monohull Sailboats 0 07-07-2006 14:34
South Pacific WW2 bcguy General Sailing Forum 14 30-04-2006 13:11
Pacific Ocean getting warmer, more acidic CaptainK Pacific & South China Sea 1 03-04-2006 20:40



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 03:12.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.