Genmar to sell Assets Quickly

[j10b]

http://www.boating-industry.com/output.cfm?id=2345977

[Sacto John]

I would like to hear from a dealer who sells Genmar boats, that can tell us what this meens to the general public. What kind of deals will be out there to be and so on.

[GregD]

When they refer to "selling of assets" I would expect that they mean the sale of different divisions of GenMar, such as Ranger, to other investors or companies. I don't think they are refering to some sort of firesale of the boats they have already built up.

[World Boat Outlet, Inc.]

When they refer to "selling of assets" I would expect that they mean the sale of different divisions of GenMar, such as Ranger, to other investors or companies. I don't think they are refering to some sort of firesale of the boats they have already built up.

i would think champion and stratos will be 1st on the auction block. thats just my personal opinion.

[XMAN]

i'll take a ranger at a fire sale price----X

[bigbass111]

I have heard from a very reliable source that if Champ, Stratos and Hydra Sports aren't purchased, they will go away. Most people dont know that Genmar is 75% BK purchases and they almost filed 2 other times in the past 15 years. Brunswick has came to the rescue with a couple big purchases in the past.

[GregD]

i would think champion and stratos will be 1st on the auction block. thats just my personal opinion.

It certainly could be other divisions besides Ranger that go on the block first. Ranger was just an example.

I guess it's possible that if they sold enough "assets" to get out of the financial trouble they are in, they could emerge from bankruptcy and do business with the divisions they have left. But that's just idle speculation as I have no ties to this business and have no idea what the board of GenMar ultimately have in mind.

[Oldschool]

You must admit that Cloutier pens a good letter; legal ease for we are selling everyhing off to the higest bidder for maximum profits.
We should know who the survivers are by the end of the year or sooner.
Tom

[Wolfeman]

I got a quote on a 2010 Ranger Z519 for 46,800.
So the 'fire sale' hasn't started yet.
- Wolfeman