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Old 16-04-2012, 08:06   #1
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Is Hunter in financial difficulty?

Live in Alachua county FL, home of the Hunter boat factory. Local paper this weekend published the annual list of delinquent taxes. Top of the list was Hunter, owing $42,912.75. According to the report, this is not like filing for an extension on your taxes, this is a delinquent payment that is accruing interest and penalties at 18% and if not paid by 30 April it goes out for collection with an additional 20% fee.

Have seen a few comments on the net in the past speculating on financial issues at Hunter. Anyone have any more detail?
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Old 16-04-2012, 08:19   #2
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Re: Is Hunter in financial difficulty?

Hunter is one of the Luhrs group of boat buildind companies. Mainship is another. There is a thread on the Yahoo Mainship group quoting the president of Mainship as saying that the company has ceased operations.

Don't know if this applies to other Luhrs companies.

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Old 16-04-2012, 08:26   #3
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Re: Is Hunter in financial difficulty?

Wow, that would be an awful big player to lose. Didn't they recently acquire the Gemini catamaran company?

Anybody know when those taxes were due? 30 days overdue is one thing, 6 months is another.
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Old 16-04-2012, 08:35   #4
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Re: Is Hunter in financial difficulty?

Fifty grand more or less seems like chump change for a company that size. Is there more to this story than meets the eye?
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Old 16-04-2012, 08:45   #5
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Re: Is Hunter in financial difficulty?

Sounds like things are slow and tough. They have been though this before and I would expect them to find some investment money to get though this 1 just like all the others:

Luhrs Marine Group stops production

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Luhrs Marine Group - the builder of Silverton, Luhrs, Mainship and Ovation boats - went into shutdown mode beginning Monday, the company confirmed to Soundings Trade Only.

The Millville, N.J.-based company said in a message to its dealers that it would shut down production for 60 to 90 days to allow boat orders to accumulate in its pipeline.
“As everyone will agree, we have all been affected in some way or another by these hard economic times the past three years,” the company said. “We have fought hard to avoid this decision, but it is the best solution to the current state of affairs.”
The company told its dealers, “We hope you will continue to promote our products and keep in touch with our sales team so that with your help we can again start producing the excellent products of the Luhrs Marine Group.”
The shutdown does not impact Florida-based Hunter Marine Corp., which is still in production.
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Old 16-04-2012, 09:06   #6
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Re: Is Hunter in financial difficulty?

Just checked the web site for the county tax office. The tangible personal property tax (applies to business not individuals despite the name) is due 1 April so only slightly overdue.

Still have to wonder why they didn't pay on time. Maybe the dog ate their tax return?
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Old 16-04-2012, 09:12   #7
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Re: Is Hunter in financial difficulty?

One other observation. I usually drive past their plant every few weeks and of course have to look in the yard at the boats. In the past it was always lined with boats, sometimes looked totally full. The last couple of years I drive by and the yard is usually empty. Frequently see not a single boat outside. Doesn't mean there are not some under construction inside.

At the least it appears that they are only making boats to cover existing orders so keeping no inventory on hand.
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Old 16-04-2012, 09:29   #8
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Re: Is Hunter in financial difficulty?

Geez, that is bad news for Hunter! I owned a 30' older design (1979) for over 25 years. It provided fine service.

But what does the future hold for any expensive toy hobby today especially boats. There are soo many used boats that don't just rot away as old cars do. Then there is the continuing soaring cost for fuel in power boating, high property taxes by communities that look upon boat owners as being in the upper 1% group that just needs to be taxed heavily; the diminishing docking spaces as shoreline demands increase.

Many of the big boating names will never come back. Silverton's doors are shut!
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