As most industries, the boating business has been hit really hard by the poor economy. In this, Genmar Holdings (Ranger, Stratos, Champion and other brands) had filed bankruptcy due to poor long term sales. Below is a press release with details of the bankruptcy auction and purchase.
Genmar auctioned off for $70M
Private equity firm buys bulk of Irwin Jacobs’ bankrupt boat company
By John Welbes
jwelbes@pioneerpress.com
Updated: 01/08/2010 09:43:30 PM CST
A Beverly Hills, Calif.-based private equity firm [...More]
