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08-24-2009, 04:10 PM
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#1
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Registered
Join Date: Mar 2009
Location: Chicago, IL.
Posts: 22
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Fountain/Baja files chapeter 11 bankruptcy
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08-24-2009, 04:54 PM
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#2
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Registered
Join Date: Jul 2005
Location: NJ
Posts: 28
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was only a matter of time, its a shame
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08-24-2009, 05:16 PM
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#3
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Charter Member #34
 Charter Member
Join Date: Oct 2000
Posts: 7,135
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Times are tough all around and especially in the marine industry.
It's all about cash flow and the cash is simply not flowing in the boating community.
Best of luck to them and the others having a hard time in this economy.
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08-24-2009, 09:23 PM
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#4
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personnaly boatless ...
 Gold Member
Join Date: Jun 2004
Location: St-Hyacinthe, quebec, canada
Posts: 4,102
personnaly boatless for now...
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this big of a boat company going that route????? this means many other are must be looking for fresh air to breed !
tough times...
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08-24-2009, 09:53 PM
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#5
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JB Marshall
Gold Member
Join Date: Mar 2006
Location: Hudson Valley, NY
Posts: 747
Formula, 382 Fastech
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Wow! That is just more bad news for the boating / high perforamce industry, not to many left to choose from in the average guys price range.
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08-24-2009, 10:58 PM
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#6
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All Throttle, No Bottle
Join Date: Mar 2007
Location: Cedar Point, OH
Posts: 214
'85 Ocean Express Cat 39, Silverton 40X Express, Century Raven 25
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Fountain boats had a good, long run in the business and Reggie knew when to fold his hand...
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08-24-2009, 11:21 PM
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#7
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Registered
Join Date: Jul 2007
Location: Shorewood, Ill
Posts: 120
98 Baja 36 Outlaw 525sc's for fun & 94 Maxum 20 for skiing
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Doesn't mean he's going under. Ch11 is re-org, just like Lk Cumberland. Fountain has plenty of debt as shown and this can remove that but let him run still. Have to see what the exact outcome is.
Above he's right it's about cash flow, and despite fountains selling, some is not enough.
Wouldn't that be crazy if Mercury bought Fountain now?
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08-25-2009, 08:03 AM
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#8
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Lakeside Restorations.com
 Commercial Member
Join Date: Nov 2003
Location: NorthEastern, PA
Posts: 2,512
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Quote:
Originally Posted by paulb32
Doesn't mean he's going under. Ch11 is re-org, just like Lk Cumberland. Fountain has plenty of debt as shown and this can remove that but let him run still. Have to see what the exact outcome is.
Above he's right it's about cash flow, and despite fountains selling, some is not enough.
Wouldn't that be crazy if Mercury bought Fountain now?
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You are correct. Just because he filed an 11 doesnt mean he is going to close. It is more of a restructure. It will probably will be better for Fountain in the longrun. Hoefully this will let them stay in business to continue building long term.. Jamie
__________________
www.LakesideRestorations.com 570-639-2628
We Make Fast Toys Faster, Cool Toys Cooler and Old Toys New!.. Performance, Custom & OEM Parts & much MORE![/CENTER]
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08-25-2009, 08:12 AM
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#9
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VIP Member
 VIP Member
Join Date: Jan 2007
Location: canfield, Ohio/cape coral FL
Posts: 576
2003 Baja 33' Outlaw SST, Baja 36' Outlaw SST
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Now maybe the owners of checkmate
will buy baja and bring it back to ohio.
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08-25-2009, 09:14 AM
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#10
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Platinum Member
 Platinum Member
Join Date: Jul 2008
Posts: 1,350
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Quote:
Originally Posted by bajarick
Now maybe the owners of checkmate
will buy baja and bring it back to ohio.
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then it can go to baja by checkmate. lol
if i was good at photoshop i would put the Knight (hourse head) and put that in the middle like baja by fountain.
its to bad to see, but reggie is older now, made lots and lots of money over the years and probably said screw it, he doesnt want to loose what he has, doesnt want to poor money into the company and thats that.
to bad, id be surprised to see him come back at his stage of the game, but who knows.
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