Boating
Boat Manufacturing: Weathering the Storm
PROBLEM
Boat Manufacturers are feeling the impact of the unsettled economic environment:
- Unprecedented economic and credit unrest creates a difficult environment for the discretionary durable goods industries
- Retailers/dealers as well as customers to these industries find credit difficult to obtain, even for the most creditworthy borrowers
- Manufacturers have experienced unprecedented declines and cancellations in market orders
- New boat registrations were down over 40% in 2008 and on pace for another 50% decline in 2009
- Decreased production volumes have put pressure on liquidity
- Repossessions, both at the retail and dealer levels, have bloated the level of field inventory, depressing wholesale and retail prices as well as orders for new boats
- Banks, feeling pressure from federal agencies, have tightened commercial credit requirements impacting even long-term relationships
- A number of bankruptcies and liquidations are creating further anxiety in the industry
SOLUTION
Many of BBK’s clients are struggling with these issues. BBK has helped these clients chart a course through this storm using our unique array of financial and operational services:
- Financial Advisory
- Cash flow forecasting
- Bank negotiations
- Floor plan provider negotiations
- Supplier management
- Capital restructuring /raising
VALUE
- Operations Advisory
- Lean initiatives • Inventory management
- Manufacturing process improvement
- Plant right sizing/wind downs
BBK’s unique approach – integrating financial and operational services to deliver comprehensive, hands-on solutions – has been the foundation for remarkable success. BBK will work with you to deliver these results fast and positively impact your bottom line.
We do not know what situation your company is currently in, but it may make sense to have a brief, exploratory call. Please contact BBK to discuss how we can help you navigate through these concerns and extraordinary challenges.