Gunboat International, a builder of high performance luxury sailing catamarans says it has filed for bankruptcy protection in a “perfect storm” of difficult business circumstances.
Company owner Peter Johnstone posted a letter on the Gunboat International Facebook page saying that a legal dispute with a boat building company was central to his own company’s financial problems.
“The Chinese built Gunboat 60 series cost Gunboat a fortune to sort out,” Johnstone wrote. “Gunboat felt an obligation to its customers and spent millions out of pocket, which proved to be a huge strain on our resources, focus and productivity.”
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