No luck three times.
Industry

No luck three times.

Najad and Nord West again reported bankruptcy.

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There's something wrong with the Danish kingdom. Swedish, to be exact. In October 2011, we talked about the second bankruptcy and closure of Najad Yachts in a year. Then the news came that Najad's assets were bought out by a consortium of Swedish yachting companies Nord West and Orust Yacht Service, and that the shipyard would continue to produce boats under its own brand.

And today Nord West Yachts and their subsidiary Najad Yachts became another victim of the economic crisis - bankruptcy and minus 150 jobs.

The shipyard, located 50 km from Gothenburg, faced serious financial difficulties and was unable to pay for equipment costs.

"This is very bad news for the market. We are baffled by this behavior of Najad. If they were going to reorganize, they should have started back in the fall. And what they're up to now - if this is some kind of plan, of course - will take six months, i.e. Najad is missing out on the whole season," says one industry expert.

The company currently has a client from the UK and Swedish law requires Najad to complete the yacht and hand it over to the client.

Yesterday, a Nord West spokesman confirmed the information about the bankruptcy, reports the resource YachtingMonthly.com.

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