Nichols Brothers Closes

Monday, November 05, 2007
On Friday, November 2, Nichols Brothers Boat Builders of Freeland announced it was ceasing operations immediately, according to a report on www.whidbeynewstimes.com.

The company was a long-term builder for the North American marine industry, well-known for its high speed passenger catamarans and small cruise ships, as well as military boats, tugboats, fishing boats and other work boats. According to a release issues by the company, there are several reasons for the closure. “Nichols Brothers has faced significant financial challenges in recent years and has sought additional capital to assist in restructuring the company. These efforts have been unsuccessful, due in part to pending litigation, and cash flow challenges ultimately forced Nichols Brothers to make the difficult decision to close its doors.”

The company was started in 1964.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Norwegian Buys Ship from Princess Cruises

Norwegian Cruise Line Holdings Ltd. announces fleet expansion for Oceania Cruises in 2016; Sirena to join sister ships Insignia, Regatta and Nautica   Norwegian Cruise Line Holdings Ltd.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1248 sec (8 req/sec)