receivership

New Zealand Yachts In Receivership

Filed under: Water

Hard times continue to hit the yacht industry. New Zealand Yachts located in Whangarei, New Zealand recently went into receivership. The yacht company came to Whangarei in 2001 and promised to create 1000 jobs. The company did a lot of refits on existing yachts but hadn't ramped up into much production of new yachts. The New Zealand Yachts website includes renderings of many planned yachts including the Wavepiercer shown above.

New Zealand businessman Allen Jones, who had built a large car-washing business in the United States, founded the company, but later returned to the US. HIs son, Damon Jones, was the company's marketing and sales manager. The receiver said the company still operates a first-class refit yard and has the potential to attract yacht work from around the world.

Source

Tags: new zealand, new zealand yachts, NewZealand, NewZealandYachts, receivership, whangarei

Nikki Beach Turks and Caicos Closes

by Deidre Woollard (RSS feed) —

Filed under: Journeys

Say farewell to another luxury resort. Leeward Resort Ltd. the owner of the Nikki Beach Resort & Spa in Turks and Caicos, has been placed into receivership. The resort, which offered 48 rooms and suites with luxury amenities, has been closed after being open less than tow years. The Nikki Beach brand remains afloat with resorts around the world including Miami, New York and Thailand. The British Caribbean Bank will manage the 430-acre resort and 110-slip mega-yacht marina and is hoping for a buyer. Since the Four Seasons Exuma was recently snapped up by Sandals there's reason to believe that their might be another hotel company willing to make a deal and pick up a resort which has been widely regarded as one of most exclusive in the Caribbean. Expansion plans for the resort had included condominiums, a spa, casino and new restaurants.

Source

Tags: hotels in trouble, HotelsInTrouble, nikki beach, NikkiBeach, receivership, resort, turks and caicos, TurksAndCaicos

Australian Boat Maker In Receivership

by Deidre Woollard (RSS feed) —

Filed under: Water

Australia's biggest luxury boat builder, Riviera, has gone into voluntary receivership. The company operates a boat building facility at Coomera on the Gold Coast in Queensland and exports to more than 30 countries around the world. But like many other yacht builders Riviera has had trouble selling its yachts in the economic downturn. The company fired employees and closed its production line for three weeks recently but is still in crisis. The company may be put up for sale or may go through a restructuring process. Riviera employs 550 people and workers are still at their jobs. Riviera is planning to exhibit in the Sanctuary Cove International Boat Show on the Gold Coast from May 21 to 24.

Source

Tags: boats, receivership, riviera yachts, RivieraYachts, yacht

Colibri Goes Into Receivership

by Deidre Woollard (RSS feed) —

Another jewelry and accessories company has closed down. The Colibri Group is most well-known for their lighters but the brand also manufactures and markets other brands including Seth Thomas, Dolan Bullock and Krementz. The merchandise was sold in 20,000 outlets across the U.S. including both chain and independent jewelry stores The 80-year-old company has gone into receivership with the State of Rhode Island and immediately closed its doors laying off all workers.

Gallery: Brands in Trouble

Source

Tags: bankruptcy, colibri, receivership

Prefab Home Builder In Receivership

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Prefab home builder Empyrean International, the builder of Deck Houses, Acorn Homes, and Dwell homes is the latest victim of the credit crunch. The Massachusetts-based company closed in late October and two weeks ago, a court-ordered receiver took control of the company. The owner of Empyrean, Patrick Gilrane, blames the failure of Lehman Brothers as well as the weakening economy for the closure. He had hoped to restructure and reopen the company next year but the home builder has defaulted on a $7 million loan and has not paid its utility bills or taxes for months. The Boston Globe reports that the receiver, attorney Stewart Grossman plans to put the company up for sale once he puts its affairs in order. The company's roots go back to 1947 with the founding of Acorn Structures. Deck Houses and Acorn homes have crated entire neighborhoods. Over the last few years Empyrean has worked with Dwell magazine to create boxy modernist homes. Dwell plans to continue working on prefab homes with a different builder.

Gallery: Brands in Trouble

Source

Tags: acorn homes, AcornHomes, deck houses, DeckHouses, dwell homes, DwellHomes, empyrean international, EmpyreanInternational, receivership

Join Luxist on Facebook!

Luxist bloggers (30 days)

#	Blogger	Posts	Cmts
1	Deidre Woollard	153	2
2	Jared Paul Stern	53	0
3	Ariel Adams	45	0
4	Carrie Coolidge	37	0
5	Rigel Celeste	33	0
6	Noah Joseph	33	0
7	Annie Scott	31	4
8	Tom Johansmeyer	28	0
9	Deb West	23	0
10	Lisa Palladino	22	1
11	Jeremy Korzeniewski	14	0
12	Alison Wellner	10	0
13	Ariston Anderson	10	0
14	Jonathon Ramsey	9	0
15	Brendan Cleary	5	0
16	Kristin Young	4	0
17	Sam Abuelsamid	1	0
18	Dan Roth	1	0
19	Marsha Reid	1	0
20	Ann Brenoff	1	0