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re: Blue Wave Boats are out of business
Posted on 3/2/24 at 10:29 am to bluemoons
Posted on 3/2/24 at 10:29 am to bluemoons
Pretty well known this was or is going to happen. Their quality has been trash the past few years. Lots of unhappy customers and dealerships had their arms tied as they knew the fate.
This post was edited on 3/2/24 at 10:31 am
Posted on 3/2/24 at 2:25 pm to lion
I was curious since I’ve been impressed with the few I’ve fished, it looks like it went down like this;
Husband and wife founded company years back, made a good boat and grew
Sons took over business from parents when they retired
PE firm from cali approaches them about funding an expansion, promises to be hands off, then fires the two sons once they own the place and start squeezing every dime out of the name, quality nosedives, sons are suing the firm for forcing them out
PE firm is now broke and has filed bankruptcy due to almost exclusively owning things that inflation kills sales for
Decent chance the firm will be forced to sell back to the brothers either as settlement from the lawsuit or bankruptcy
Husband and wife founded company years back, made a good boat and grew
Sons took over business from parents when they retired
PE firm from cali approaches them about funding an expansion, promises to be hands off, then fires the two sons once they own the place and start squeezing every dime out of the name, quality nosedives, sons are suing the firm for forcing them out
PE firm is now broke and has filed bankruptcy due to almost exclusively owning things that inflation kills sales for
Decent chance the firm will be forced to sell back to the brothers either as settlement from the lawsuit or bankruptcy
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