Click for Burger Click for JetForums Click for YF Listing Service Click for Glendinning Click for Westport

Danish superyacht builder goes bankrupt

Discussion in 'General Yachting Discussion' started by taobsu, May 19, 2009.

You need to be registered and signed in to view this content.
  1. taobsu, May 19, 2009
    #1
    taobsu

    taobsu New Member

    Joined:
    May 12, 2005
    Messages:
    27
    Location:
    northeast, usa
    Just see this another superyacht builder in trouble. That is a huge blow.

    Danish superyacht builder goes bankrupt

    By IBI Magazine/Michael Howorth

    The Danish daily newspaper Borsen is carrying a story in which it says that Royal Denship, the yard in Aarhus that built, among others, the superyachts Turmoil, Big Roi and Princess Marianna, has declared itself bankrupt.

    The company's website states that court-appointed lawyers were appointed when the declaration was made official on April 3, 2009.

    The newspaper quotes Lars Skytte Jorgensen, CEO of Royal Denship, as saying: "A combination of cancelled orders and clients failing to pay on time led to the decision."


    (19 May 2009)
  2. goplay, May 19, 2009
    #2
    goplay

    goplay Senior Member

    Joined:
    Mar 16, 2006
    Messages:
    169
    Location:
    Sausalito, CA
    That's a shame, I know the founder, a forward looking innovator in the field. Very solid build but not highly differentiated, a factor that may be especially critical in these survival times.
  3. Medicine Man, May 22, 2009
    #3
    Medicine Man

    Medicine Man New Member

    Joined:
    May 16, 2009
    Messages:
    4
    Location:
    Chicago, Illinois
    Really sad news! I met him with the Turmoil owner while construction was underway in 2006. Red flags were being raised then, but thought he might be able to pull out of it. Big blow to the Assens economy.