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Old 04-10-2008, 11:38   #1
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Broadblue in Financial Difficulty?????

The title is NOT a statement but a question, I heard through the grapevine from a very good source that on the last day of the Southampton Boatshow both of the Broadblue sales people were made redundant/sacked, not really sure which, is this saying that Broadblue are finding sales slow and are also finding the times very difficult and cutting back on expenditure or were the sales people just not performing!!
I find this strange when they are always saying in the press how successful the new BB 415 is and that Hillyards will be building that model in the UK.
Does anyone else have any news on this subject??
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Old 04-10-2008, 12:04   #2
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In these difficult financial times anyone who orders a boat should think twice. I went through this in the late eighties when there was another downturn and many boat builders closed up their shops either through bankruptcy or not enough capital to continue. Best advice is, if you're buying, buy something that you can see. That leaves only boats on a dealer's lot or used boats.
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Old 04-10-2008, 12:10   #3
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Rick, I totally agree with you, I am not at all interested in in any of the BB's and if I were to be buying a new boat with any company I would only agree to pay by a Letter of Credit to ensure my money is safe.
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Old 04-10-2008, 13:02   #4
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Boat: Have decided to go for something mid performance but comfortable. 2 Choices!
Which choices??
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Old 05-10-2008, 04:42   #5
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In these tough times, the general rule is that any builder which is not competitive enough will disapear. I have no clue about the financial structure of Broadblue. Being competitive doesn't necessarily mean being big.
In my view, the larger manufacturers that can leverage scale of economy and the niche manufacturers (small staff, good enough to get couple of orders a year with no cash issue) will likely to survive. The most vulnerable ones will be the ones that will be squeezed in beetween.. (too big to play the small but too small to play the big..)
Broadblue may well fall into this group..

In this shortage of liquid, buying a boat could be an opportunity. Not sure about the new boat prices but I assume very shortly there will be plenty of second hand boat available at "never seen before" prices..
I agree with Vasco that noone has to buy anything that they don'ty see. I also assume that many people will have to cancel their orders and some dealers may offer new boats at incredible prices.
It's sad but that's the truth..

Cheers

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Old 05-10-2008, 15:09   #6
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I am in dispute with BB. My 415 is 5 months late, still not finished, poor quality cabin linings and now I suspect supply problems. If they have problems, their rotten customer service won't help. If I had a crystal ball I would not be the 90% owner of a Broadblue!
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Old 05-10-2008, 15:39   #7
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OUCH!
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Old 05-10-2008, 15:54   #8
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More on my experience in buying a new boat in the late eighties. A friend bought a boat from another manufacturer at the same time. He'd paid for it, the boat was completed but left in the manufacturer's yard waiting for delivery to the marina and commissioning. The company went bust and the bailiffs seized his boat. Unfortunately it was not documented yet so technically it belonged to the manufacturer. A hard lesson.
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Old 05-10-2008, 16:10   #9
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Quote:
Originally Posted by bb beware View Post
I am in dispute with BB. My 415 is 5 months late, still not finished, poor quality cabin linings and now I suspect supply problems. If they have problems, their rotten customer service won't help. If I had a crystal ball I would not be the 90% owner of a Broadblue!

Sorry to hear this!
If it one of the boats laid up in Stettin in Poland by a small company, then I would advise you to get a VERY in-depth survey of the hulls. I visited a company there a couple of years ago, with a friend who started a new catamaran build project there, - long sad story- for another day.
I would also suggest a weight check if it is the people I'm thinking of. I know they have done a hull or 2 for BB, and I was really suprised that they had come to this. If BB were on the ball with good quality control it could be fine.
You can PM me for the company name or a bit more background information.

Alan
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Old 06-10-2008, 09:09   #10
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My 415 was built at the old Prout factory in Canvey by TEC. The mould tools are poor thus the hull has a ripple finish (don't have a dark blue hull!). The boat is virtually finished but there are problems with the quality of the side linings and a now getting the sub builders to finish. They have'n't been paid and so are reluctant to do any more.The mould tools are now at Hillyards, there are 2 more 415's under construction. I had a surveyor supervise the build- best 2500 I ever spent. I hope they don't go to the wall before I get the boat out!! It's a good boat-it is just the company that's crap!
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Old 06-10-2008, 09:56   #11
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Originally Posted by bb beware View Post
My 415 was built at the old Prout factory in Canvey by TEC. The mould tools are poor thus the hull has a ripple finish (don't have a dark blue hull!). The boat is virtually finished but there are problems with the quality of the side linings and a now getting the sub builders to finish. They have'n't been paid and so are reluctant to do any more.The mould tools are now at Hillyards, there are 2 more 415's under construction. I had a surveyor supervise the build- best 2500 I ever spent. I hope they don't go to the wall before I get the boat out!! It's a good boat-it is just the company that's crap!
BB Beware, I am sorry to hear of your troubles and I as I am sure like everybody else you get the boat out quick. Are they able to sort out the rippling or are they agreeing to some sort of compensation.
Also do you have the option to take delivery in it's current state and not part with the final 10% so that at least you have the boat and could use the 10% to get her finished to the standard you want.
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Old 07-10-2008, 03:25   #12
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I sympathise with bbbeware - Its the kind of issues that you are having that made BB move builders in the first place. My 415 is nearing completion at Hillyards and the quality and attention to detail has been great. Yes its late but I negociated an amicable settlement with BB. It is unfortunate that BB have become victims of declining standards at their previous builder but at least they have done something about it for the future. It is a good boat and BB have a great design. Its just unfortunate that the builder has not delivered. My commiserations - hope to see you on the water sometime!

As for being in financial trouble - if the rumour of laying off sales people were true, it would be a sign of prudent management in a difficult global financial environment. I would expect to see a lot more of this. My understanding is that quite a few companies went into administration after their poor showing at Southampton - others, I am sure will be cutting back as we face some years of much more expensive borrowing ahead.
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Old 07-10-2008, 05:18   #13
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I agree with most of you, I'm still in the position of getting a new boat and hopefully soon. That being said, I am leaning more towards getting a boat that I can see, touch and walk on. NOT too sure about putting my money down and waiting for nearly a year to receive it. A lot of things can happen within that year. AS everyone knows, a lot of crazy stuff has happened with the last few weeks let alone a year!!!

Good luck with your BB!! Keep us informed on this situation!!
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Old 07-10-2008, 05:47   #14
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Buying a new boat is always a risk. We rejected a new boat with problems, took about 2 years to get everything sorted out. It was not very much fun by the end.

Joli
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Old 07-10-2008, 07:36   #15
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DAMN Joli, I really hate to hear those types of stories even though they are not as rare as one might think. Was the new boat from a major manufacturer or a smaller builder?? Just curious to see the degree of risk depending on the company's profile. Thanks again for sharing that experience.
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