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Old 07-11-2007, 09:32   #1
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PDQ operations shut down for now?

I've heard that PDQ has shut down operations until they can arrange buyout by a new investor. Anyone have the details on that?

If this is correct, I hope they are back in operation soon! It's got to be a tough time for boat builders right now...
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Old 07-11-2007, 10:22   #2
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Sad but true. Hoping for money from new investors. Wish them luck.
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Old 07-11-2007, 12:11   #3
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pdq pdgone? - Sailing Anarchy Forums

Nothing official on their website yet.
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Old 07-11-2007, 22:21   #4
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Didn't Contour also close their doors a while ago?
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Old 12-11-2007, 20:47   #5
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Quote:
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Didn't Contour also close their doors a while ago?
That's what I was told last summer in a San Juan anchorage by a Contour 34 owner while we compared boats.

Steve B.
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Old 13-11-2007, 13:14   #6
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Canada is bearing the brunt of the US dollar weakness. The US accounts for 80 percent of their exports and the strong canadian dollar plus banks getting yanked back from their ridiculous lending practices means a lot of Canadian companies are going to have real trouble. PDQ built a great boat, great quality and great customer service.
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Old 13-11-2007, 13:22   #7
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It is a shame but many of these smaller companies have cash flow problems and end up using new sales deposits to finish other boats on the line. This is the most worrisome thing when ordering a boat. I went through this in 1988 and luckily got my boat, a CS36. CS Yachts shut down voluntarily but nobody got stiffed. When I bought my Beneteau a few years ago I made sure I got one that was sitting on a dealer's lot even though Beneteau is healthy and not likely to disappear. It's a lot of money to put out with little assurance that you won't be the unlucky one. What makes it worse is once there's a whiff of financial problems the orders dry up.
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Old 13-02-2008, 06:08   #8
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Pearson Composites (formerly TPI Composites), may have acquired the power catamaran business of PDQ Yachts.

PDQ 41 Power Catamaran: PDQ 41 Power Catamaran
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Old 13-02-2008, 08:02   #9
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PDQ sail cat also returns

The Antares sail cat is now being offered through a new operation headed by their former sales / marketting guy.

see :: Antares Yachts ::
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Old 13-02-2008, 08:30   #10
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Glad to hear it Henry. I do know that in the late fall of 2007 the assets of the former PDQ Yachts in Whitby were auctioned off under power of sale (including an unfinished Antares 44). I wonder who got 'stiffed' on that one, as I strongly suspect that it was pre-sold.

And yes, caution is the order of the day. C&C yachts in Canada went through the same process some years ago and a number of their yachts were chained to a fence for auction - the purchasers (who had paid between 25 and 75% depending upon the stage of completion) ended up with nothing as they were 'unsecured creditors'.

PDQ did produce some exceptional boats and yes, their reputation for service was second to none. Unfortunately, as has been pointed out, the plummeting US dollar eliminated all profitability in their primary market. Here's to hoping that the new owners are able to proceed with less debt and that they are thereby able to reduce the manufacturing cost and return to profitability. I, for one, wouldn't hold my breath.

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Old 20-02-2008, 13:14   #11
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New to the forums and find this interesting. I was at the Miami boat show and there were 2 PDQ 44i. I asked alot of questions and everything seemed like things were going well for PDQ (loved the galley and windshield wipers) . I was wondering if PDQ is still taking orders and if buyers are aware of this, why would they risk their $770k +.
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Old 21-02-2008, 08:32   #12
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They are moving production to Taiwan I think, the are trying to finish the last boat in Canada now... also I think they are just Antares, the PDQ part is what went bankrupt.

I would be worried about taking one of the first boats of a new line in a new country but PDQ has an excellent reputation.
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Old 21-02-2008, 12:23   #13
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You would want to be very careful in placing an order. If you are unable to purchase a completed boat, you should consider arranging to have a lawyer maintain all the funds in trust until closing, with 10% held back even then for final inspection/survey. A contract would be entered into and in exchange for their agreement to produce your boat on a certain schedule, you would be required to deposit funds at various stages of completion. Those funds would be held in trust, with an irrevocable direction to be payable upon delivery of the vessel with a clear title (and subject to the post-delivery inspection/survey). If Antares did not agree to this (and in fact need the money in advance of delivery to keep their operations going), I'd give them a very wide berth. If they do agree (and its not all bad for them as their own banks should consider the contract an asset), then you should be reasonably secure.

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Old 21-02-2008, 14:10   #14
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Excellent advice. Too many have been stung by boat builders using deposits on boat #2 to pay for building boat #1. Make sure the money is in trust. You will have no claim on the boat if it's still in the builders yard even if it's 100 % finished. There have been cases where the boat was completed and sitting in the builder's yard and the bailiff seized it and the "owner" had no claim to it.
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Old 21-02-2008, 15:14   #15
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Just as an FYI, Antares never existed before, it was only PDQ yachts. Antares is a different and new company, probably would have to be legally, although it does now have some of the key people from PDQ. Of course, they would be using PDQ molds. I know all of their staff personally and wish them all of the best, but the above cautions might be wise.

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They are moving production to Taiwan I think, the are trying to finish the last boat in Canada now... also I think they are just Antares, the PDQ part is what went bankrupt.

I would be worried about taking one of the first boats of a new line in a new country but PDQ has an excellent reputation.
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