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Fountain Powerboats Files Chapter 11 Bankruptcy

Discussion in 'General Yachting Discussion' started by YachtForums, Aug 25, 2009.

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  1. YachtForums, Aug 25, 2009
    #1
    YachtForums

    YachtForums Administrator

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    Fountain Powerboats Files Chapter 11 Bankruptcy​

    From Trade Only...

  2. YachtForums, Aug 25, 2009
    #2
    YachtForums

    YachtForums Administrator

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    In other news, Pawn Shops in Washington, North Carolina have reported an increase in the number of gold chains for sale...
  3. K1W1, Aug 25, 2009
    #3
    K1W1

    K1W1 Senior Member

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    What's that got to do with Yachting?:D
  4. CaptTom, Aug 25, 2009
    #4
    CaptTom

    CaptTom Senior Member

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    Reggie only has $3 in assets? Boy, he really waited until the end to file.
    It's a shame to see another go through this.
  5. Seafarer, Aug 25, 2009
    #5
    Seafarer

    Seafarer Senior Member

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    Reggie Fountain is widely known in his market segment to be somewhat of a connoisseur of tacky gold neck accessories. He never left the 1970s.


    Let's take a look... and a closer look...

    Attached Files:

  6. Grecko, Aug 25, 2009
    #6
    Grecko

    Grecko New Member

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    And my wife sometimes complains that I don't update my style and wardrobe often enough.....:eek:

    Getting back to the topic tho... Sorry that this happened, he has built some fantastic boats over the years.. Just goes to show that no matter how well heeled some of your customers are, it is hard to be immune to downturns like this...
  7. C4ENG, Aug 26, 2009
    #7
    C4ENG

    C4ENG Senior Member

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    Finally K1 didn't know something HA HA!
  8. Hiper, Aug 27, 2009
    #8
    Hiper

    Hiper New Member

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    It's a pity to see Fountain in this situation. According to Reggie, Brunswick had offered to buy Reggie's share in Fountain Powerboats (51%) about 5 years ago for $25.5m. He thought the company was worth more and refused the offer.

    Maybe should start selling some of the 315 apartments or shopping complexes he owns :)

    http://www.fountainpowerboats.com/sport/reggie/reggie_other.html
  9. K1W1, Aug 27, 2009
    #9
    K1W1

    K1W1 Senior Member

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    Have a look at the word Facetious, it should explain why I wrote that.