08-01-2008, 03:07 PM | #1 |
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Olympic Boat Center files for Chapter 11 Bankruptcy
It's not just that automobile business that is feeling the impact of the poor economy, tight credit and record high fuel prices.
Olympic Boat Center recently filed for Chapter 11 Bankruptcy. Olympic Boat Center has 18 boat dealerships located throughout the West Coast. If you live on the West Coast, you've probably heard one of their radio spots or TV ads. Their tag line was "...we'll make a boat nut out of you." Here's a link to the news report: http://seattletimes.nwsource.com/htm...picboat22.html |
09-12-2008, 08:36 AM | #2 |
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Brunswick makes a bid for $48 Million
A news report in the Seattle Times indicates that Brunswick has made a bid of $48 Million for the assets of Olympic Boat Center.
Brunswick is the maker of Bayliner Boats and Mercury Marine and currently owns 12% of Olympic Boat Center. The $48 Million bid would be sufficient to retire $47 Million in secured debt leaving only $1 Million for the remaining creditors. The deal has not been accepted. Here's a link to the news report: http://seattletimes.nwsource.com/htm...picboat26.html |
09-24-2008, 04:29 PM | #3 |
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Bankruptcy Court begins to auction off assets
Any hopes for the recovery of the Olympic Boat Center Dealerships seems to have faded now that a Bankruptcy Court in San Francisco has started selling off assets via a Bankruptcy Auction.
Although two of the Olympic Boat Center Dealerships remain operational it is uncertain haw long they will remain open before they are shut down. Here's a link to the news report: http://www.komonews.com/news/29648069.html I wonder if the offer from Brunswick had been accepted if the stores would have re-opened - I guess we'll never know. |
11-27-2008, 01:13 AM | #4 |
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One of the most popular threads on the site
For reasons that I do not fully understand, this is one of the most visited threads on the site.
I'm sure that it must be the result of a Google Search, but I've never been able to source what site leads people to this thread. If you're reading this thread and you've never been to DealershipForum.com before, please send me a note and let me know how you found us. (Just click on the "Contact Us" link at the bottom of the page) On a side note, I've noticed that Olympic Boat Center's Fife, WA location along I-5 has recently closed and most of their inventory has been moved. It's always a sad reminder for me when I drive by - there were a lot of great businesses that got wiped out this year with the combination of a weak economy and high fuel prices. |
12-01-2008, 08:20 PM | #5 |
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It was Google.....
I just wanted to thank the guest who sent me a note indicating that it was a link from Google that lead him to this thread.
If you search for "Olympic Boat Center" on Google you'll get a link that leads to this thread. I knew that Google had been "mining" the site for data, but this is the first thread that has drawn several hundred visitors to the site as a result of one of their links. You've got to love the power of the Internet. |
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