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Newly created Yacht charter company file for bankruptcy - 134 jobs to go

Wednesday, 27 February 2013
Boat manufacturer, Nord West & Najad in Henan, Orust in Sweden has filed for bankruptcy. The company is one of Scandinavia's largest boat builders and this indicates a continued worrying economic situation in the country and that market.

It is unclear what the bankruptcy means for business, but the company's 100 employees at Vindön and 34 Lyse stand the chances of loosing their jobs

"It is a great company with great products. Nevertheless, they have not been able to get enough funding, there is thus a lack of liquidity," said Jan Save, CEO of the company to radio Sweden.

The CEO adds that the liquidity problems the company faces is related to the general difficulty small and medium-sized companies find themselves now in the Swedish market scene. Banks are not confident enough to lend. There have been ongoing negotiations with other stakeholders, but that has not been able to bring in the desperately needed resources.

The company came into being when the boat manufacturer North West bought sailboat manufacturer Najad, bankruptcy estate in 2011. However, Najad had built boats in Henan, Orust in 40 years when it went into bankruptcy in 2011.
By scancomark.com Team

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