We hoped it wasn’t true, but the improvement of the new retail North American sailboat market continues it’s sluggish improvement. Faced with a surge of European brands due to the price of the EURO, it has been a tough go as of late for American Sailboat Manufacturers. The industry claimed is the latest victim as US Watercraft of Portsmouth, RI filed for receivership on July 18 of this month. Despite the excellent craftsmanship and attention to detail of the Alerion, True North, C&C and North Rip brands- the manufacturer that grown by leaps and bounds in the past five years closed its doors as a trustee was appointed by the courts to mitigate the almost $7M in secured debt that the company held on its books.
We are Karma Yacht Sales, really believed in the brand and as of today have not received official word from USWC, but we’re hopeful that the lines will be acquired by a new manufacturer. From what we hear, there has already been some interest- we shall see what the future brings.