Marquis Yachts, a shipyard based in the United States of America, is not sailing in very good waters. According to local media reports, some 344 company employees will remain idle due to a temporary closure, the duration of which is unknown, of the plant. Other sources, including IBI News, say employees at Pulaski, home of Marquis Yachts, will lose their jobs in March if the company fails to secure new ownership.
Marquis Yachts: here’s what happened
The company is said to have formally notified the state of Wisconsin of the impending reduction of staff at its plant in early March. The company says that among the reasons for the sudden stop was a previously anticipated buyer who withdrew from the purchase, compounded by the inability to secure short-term financing to continue operations until the sale was completed.
Lexus with Marquis for 65-foot luxury yacht
In a statement issued Thursday, the reduction is expected to begin on March 1, 2020, unless the sale is completed by Feb. 29, 2020. However, the letter states that if the company is able to close a sale with a new buyer by February 29, then there will be no closing.
Company officials, however, again according to Wbay, say it is unlikely that a sale will be finalized by March 1 and predict that a temporary closure will begin at that time, which they say will affect most, and potentially all, employees.
In search of funding
The company says it is seeking long-term financing to enable operations to continue. As the effort to negotiate the sale of the company continues, Marquis Yachts is said to have informed the state that it is working with limited financial resources to continue operations until March 1.
This is the latest model presented by the shipyard: Marquis M42, the Mediterranean day cruiser as powerful as an American
