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Credit crunch takes hold

18th October 2008

A down turn in new boat sales this season is making an impact on dealers north and south of the border. The business failures reflect a contraction of the marine industry worldwide.

A meeting of Whiterock yachts creditors will be held next Wednesday (October  22nd) following a decision to commence liquidation proceedings by its director, Strangford yachtsman David McKnight.

Whiterock yachts acted as all Ireland agents for Elan yachts and Rodman motor boats. They were also involved in used boat sales, RIB sales, pre-purchase and insurance surveys, insurance, moorings, deliveries.

It is understood the company sold 18 Elans in 2006 but new yacht sales had plummeted over the past two years.

The creditors meeting will be held at the Strangford Arms hotel next Wednesday.

Separately, a legal notice published in the Irish Times last month advises that a petition for the winding up of Premier Marine and Leisure limited by the High Court was presented to the High court by the Collector General on September 9th.

The notice placed by the Revenue Solicitor says the Collector General is a creditor of the company and the petition is to be heard before the Court on October 20th.

The Companies Registration office gives the registered office for Premier Marine and Leisure Limited as Unit 13, Northwest Business Park, Dublin Road Carrick on Shannon, Co.Leitrim.

The company was registered on August 31 2004 and the wind up was the subject of a Sunday Times article on October 12.

Both failures were preceded by the sale of the Sail Ireland Marine Ltd fleet by receivers in May. A dozen yachts and motor boats were offered for sale in Kinsale on May 9.

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