Originally Posted by Stumble
No GB was selling boats pretty easily, the problem is they couldn't manage the build times. Construction time lines were all substantially delayed, nothing was coming out of the shop on time, delaying incremental payments, forcing vendors to switch to COD, or cash before building... Eventually it became unsustainable.
Add in some major PR problems in the last 24 months for two new designs (which effected sales of those designs) and the house crumbled.
Trying to launch the 55 and G4 at almost the same time was a pretty risky decision that really bit them in the a**.
All of the above sounds like management's failures: failing to manage build times, failing to secure stable and safe funding
, failure to time launch events
BTW a company this many years into existence should have heaps of cash to draw upon without any need for risky capital structure practices. Or else this was not a boatyard, it was a milking cow for the owners.
Whichever way one looks, their failure is great news and I hope someone with better skills will take up where they left and benefit from the process.
It is always good for business when big pretenders fall - makes this much more space for whoever could not get over the artificially sustained entrance wall in the old set up of lies and (borrowed) money