Is searay going out out of business?

J

jyungfu

New Member
May 8, 2009
10
This is hearsay I am not saying it is true, just trying to get some facts. .. a buddy of mine who is tied to boats with chemicals (he is an engineer) told me that Sea Ray and a number of other boat manufacturers MAY be going out of biz? My boat is out of warranty, but if this is true does this mean folks should get any warranty work done asap?

Again, this is second hand so dont' start telling everyone. Plus he is assuming because they are not ordering new materials for makng new boats.
 
Get warrenty work done ASAP regardless. The dealers are independent of SeaRay . . and they have their own problems.

And you know what happens when you assume. . .
 
That's how rumors get started. Why would you post it if you didn't want the whole world to know about it. Your post is sort of disingenuous and not based in any fact. While it may happen, why put this out there without any real information just to fan the rumor mill.

Things are tough on all of these guys. Based on the fact that they are slowing production and laying off employees that doesn't seem unreasonable to slow purchasing of materials. They are in survival mode just like a lot of companies are doing. I know at my company we are all looking for ways to cut spending and save a few bucks including putting off purchases and construction jobs. This doesn't mean we are going out of business.

BTW, on my favorite subject. On June 9, MM posted their loan modification terms. It appears that they will be liquidating and significantly downsizing by year end. A watershed date is this September and there are others.

It might be a good idea to get any extended warranty work down before then.

Disclaimer: This is only my opinion and you should read the disclosure for yourself which is on the MM website.
 
They are a publicly traded company (Brunswick - BC). They won't just "go out business". Times are tough and they are shutting many things down. But before they would "go out of business" I'm sure there would be a Chapter 11 or 13 activity before a 7 occured. Which would allow them to reorg, if it came to that.
 
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I heard that God is going to end the world. The Obama administration said they heard it too and that women and minorities will be affected the most so they are drafting a program to help.
 
jyungfu said:
This is hearsay I am not saying it is true, just trying to get some facts. .. a buddy of mine who is tied to boats with chemicals (he is an engineer) told me that Sea Ray and a number of other boat manufacturers MAY be going out of biz? My boat is out of warranty, but if this is true does this mean folks should get any warranty work done asap?

Again, this is second hand so dont' start telling everyone. Plus he is assuming because they are not ordering new materials for makng new boats.
Click to expand...

You really should have thought this through before posting it. Sea Ray is not going out of business and there should be no concern about warranty work. I have to say that I am impressed with the way Sea Ray/Brunswick is handling the downturn. It sucks to have layoffs, etc but they are making some tough decisions while still driving forward and staying committed to the industry and the customers.

I actually think that some of Sea Ray's competitors offer better creature comforts and attention to style but I will stick with Sea Ray (and Marine Max in my case) because of their customer commitment. Others on this forum may have a different experience but I've talked to both Sea Ray and MM corporate and they are a sincere bunch.

.
 
ChuckW said:
They are a publicly traded company (Brunswick - BC). They won't just "go out business". Times are tough and they are shutting many things down. But before they would "go out of business" I'm sure there would be a Chapter 11 or 13 activity before a 7 occured. Which would allow them to reorg, if it came to that.
Click to expand...

That would be a Chapter 11 filing. :smt100
 
unlvrebel said:
That would be a Chapter 11 filing. :smt100
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My understaning:

7 = Goodbye
11 = restructure without limits
13 = payment plan with limits

So 11 andd 13 could happen before a 7 no? Sorry never been there and hope not to :smt101
 
completely unfounded statement from yfungu(sic). We don't need unfounded statements posted here!
 
Presentation said:
I heard that God is going to end the world. The Obama administration said they heard it too and that women and minorities will be affected the most so they are drafting a program to help.
Click to expand...

What about the children?
 
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