Notices
The Boating Forum

Everglades going out of business?

Old 02-18-2009, 05:14 PM
  #1  
Member
Thread Starter
 
Join Date: May 2003
Location:
Posts: 75
Likes: 0
Received 0 Likes on 0 Posts
Default Everglades going out of business?

Anybody heard that Everglades is going out of business? Hate to see anyone go.... ;?
Old 02-18-2009, 05:35 PM
  #2  
Admirals ClubCaptains Club Member Admiral's Club Member
 
Join Date: Oct 2002
Location: anderson, sc
Posts: 19,235
Received 1,426 Likes on 820 Posts
Default RE: Everglades going out of business?

Heard mixed reports ;? ;? ;?
Old 02-18-2009, 06:01 PM
  #3  
THT SponsorCaptains Club Member
THT sponsor
 
Join Date: Feb 2003
Location: south east Fl
Posts: 386
Likes: 0
Received 4 Likes on 2 Posts
Default Re: Everglades going out of business?

I also heard this at the miami show. Too many boats in inventory collecting interest payments
Old 02-18-2009, 06:04 PM
  #4  
Senior MemberCaptains Club Member
 
Join Date: Mar 2003
Location: San Francisco Bay Area
Posts: 8,781
Likes: 0
Received 15 Likes on 11 Posts
Default Re: Everglades going out of business?

I wouldn't doubt it.

Sign of the times...
Old 02-18-2009, 09:06 PM
  #5  
Senior Member
 
Join Date: Nov 2007
Location: Riverview, FL
Posts: 437
Likes: 0
Received 1 Like on 1 Post
Default Re: Everglades going out of business?

Too bad, that new 34 was really nice.
Old 02-18-2009, 09:10 PM
  #6  
Senior Member
 
Join Date: Oct 2008
Location: Tampa Bay
Posts: 1,039
Likes: 0
Received 1 Like on 1 Post
Default Re: Everglades going out of business?

They are pre-longing their shutdown until the first week of March. Keep your fingers crossed for all us builders. We appreciate it!
Old 02-19-2009, 03:09 AM
  #7  
Admirals ClubCaptains Club Member Admiral's Club Member
 
Join Date: Oct 2002
Location: anderson, sc
Posts: 19,235
Received 1,426 Likes on 820 Posts
Default Re: Everglades going out of business?

250 Osprey - 2/19/2009 12:10 AM

They are pre-longing their shutdown until the first week of March. Keep your fingers crossed for all us builders. We appreciate it!

Got my fingers crossed for everyone in this economy, my son works at UPS and even he is sitting at home right now ;? ;?
Old 02-19-2009, 04:13 AM
  #8  
Admirals Club Admiral's Club Member
 
Join Date: Jul 2008
Posts: 4,462
Received 157 Likes on 102 Posts
Default Re: Everglades going out of business?

Hope they can stay afloat.

I'm still waiting for my new Pilot posts. Hope I can get it fixed before they shutdown
Old 02-19-2009, 04:19 AM
  #9  
Senior MemberCaptains Club Member
 
Join Date: Jul 2005
Location: easley sc
Posts: 1,952
Received 68 Likes on 50 Posts
Default Re: Everglades going out of business?

Definately survival mode for all businesses right now.



I get atleast ! person a day who says"I'M SURPRISED YOUR STILL IN BUSINESS" Well thanks for the vote of confidence>>>just damn
Old 02-19-2009, 04:19 AM
  #10  
Senior Member
 
Join Date: Nov 2006
Location: Right outside your bedroom window
Posts: 356
Likes: 0
Received 2 Likes on 1 Post
Default Re: Everglades going out of business?

They are good boats, but they are ridiculiously over-priced.
Old 02-19-2009, 07:32 AM
  #11  
Member
 
Join Date: Nov 2008
Location:
Posts: 36
Likes: 0
Received 0 Likes on 0 Posts
Default Re: Everglades going out of business?

I heard the big problem (other then the economy) happened when Textron pulled out of the marine floor plan business. Everglades had several dealers with Textron and then GE said they didn't want to take on any new business. Dealers were left to sell off thier existing inventory but couldn't order new boats. The plant continued to build boats and supposedly built up aprx 12 mill in finished inventory at the plant. Talk on the street is that they owe a good amount more then the inventory value.
Old 02-19-2009, 07:57 AM
  #12  
Senior Member
 
Join Date: Jan 2009
Location: Mechanicsville, VA
Posts: 396
Likes: 0
Received 16 Likes on 5 Posts
Default Re: Everglades going out of business?

GE is the final player in the marine floor plan business. As mentioned before they are not accepting any new business. The word is, they may get out by year end. Looks like dealers may have to go back to the old days and work with local banks- thus stocking much less inventory.
Old 02-19-2009, 08:00 AM
  #13  
Senior MemberCaptains Club Member
 
Join Date: Feb 2007
Location: Lemont, IL
Posts: 1,622
Received 61 Likes on 38 Posts
Default Re: Everglades going out of business?

Darn, I feel for all these guys. Pretty boats and well made, sorry it's not working out.
Old 02-19-2009, 08:06 AM
  #14  
Senior MemberCaptains Club Member
 
Join Date: Sep 2001
Location: New Smyrna Beach, Florida and Aspen, Co
Posts: 3,641
Likes: 0
Received 431 Likes on 104 Posts
Default Re: Everglades going out of business?

The owner had a 35 that just burned to the water line behind his house a few weeks ago. The newspaper listed the insured value at $350k!! I didnt realize that they were that expensive..... I drove by the Everglades store in NSB this morning and all looks good there but I have a client that works at the factory and he said that it is slooow. Same everywhere though.
Old 02-19-2009, 08:09 AM
  #15  
Senior Member
 
Join Date: Feb 2006
Location: DeBary, Florida
Posts: 521
Likes: 0
Received 0 Likes on 0 Posts
Default RE: Everglades going out of business?

A guy in my neighborhood was their gelcoater. He got layed off when they shut down back in December. He said things were not good.
Old 02-19-2009, 08:46 AM
  #16  
Junior Member
 
Join Date: Feb 2009
Location:
Posts: 15
Likes: 0
Received 0 Likes on 0 Posts
Default Re: Everglades going out of business?

Good Morning Gentlemen/women,

I certainly appreciate all the speculation and theory surrounding Everglades Boats. Short of replying to each individual rumor, thought this might help.

1. Regarding your understanding of Textron, yes, they have pulled out of marine business.
2. Dealers are not left to sell off inventory but do need to work out alternate means of floorplan.
3. Everglades has negotiated a floorplan contract with Bank of America to pick up the Textron slack, Everglades has GE floorplan in place for dealers that qualify. Everglades is also investigating other means of floorplan financing.
4. Everglades does not have 12 million dollars of finished inventory at plant.
5. No one has come to the plant to remove any engines.

Everglades is retailing boats at levels consistent with current market demand. Since January 1 of 2009, Everglades has invested more than $250,000 in boat show participation from New York to Miami. Everglades displayed 14 models, 23 to 35 feet at the Miami International Boat Show, two separate land displays and four boats in the water. Everglades sold approximately 12 boats. The majority of which were large center console and express models. 6 boats sold in Atlanta show, 4 boats sold in Atlantic City, New England Boat Show, just started this past weekend and 2 boats sold confirmed.

Everglades has introduced two new Express model boats, a 320 Express and 350 Express in the past six months along with two new center consoles, the 210 CC and 230 CC. They also have made a major investment in new model year changes from 2008 to 2009 model boats. Everglades has one of the hottest products in the market today.

Currently, Everglades is supporting the dealer network with a limited number of office and plant employees. Like every single marine manufacturer in the business, Everglades has had to make some very difficult decisions in the past few months with regard to labor. Employees have been furloughed, employees have had to work for lower salaries and employees have had to endure living their lives with an extreme amount of uncertainty. Check around, every brand has shutdown production or made major reductions in workforce to remain viable. The marine business is very fragile right now, not unlike every other business in the US with exception of those receiving substantial capital from the government.

With the recent increase in demand and some signs of improving sales with the early winter boat shows, Everglades plans to start with some limited production in early March.

Everglades appreciates your interest in our health and well being. If you are a praying sort please put us in your prayers, our employees and families need it. If your not, throw a little positive energy our way. Everglades is in business. I am off to work on some more pressing matters but will try to reply if you have specific questions later tonight.

Kind Regards,
David Glenn
Old 02-19-2009, 09:14 AM
  #17  
Senior MemberCaptains Club Member
 
Join Date: Sep 2001
Location: New Smyrna Beach, Florida and Aspen, Co
Posts: 3,641
Likes: 0
Received 431 Likes on 104 Posts
Default Re: Everglades going out of business?

David,

Although I am not an Everglades owner I hope the best for your business. I have a few clients that work there and I know that NSB/Edgewater sure cant afford to lose another employer.
Old 02-19-2009, 09:23 AM
  #18  
Senior MemberCaptains Club Member
 
Join Date: Apr 2002
Location: Columbia,S.C.
Posts: 3,761
Received 50 Likes on 38 Posts
Default Re: Everglades going out of business?

Everglades builds a very nice boat . I wish ya'll the best
Old 02-19-2009, 09:24 AM
  #19  
Senior Member
 
Join Date: Nov 2007
Location:
Posts: 1,866
Likes: 0
Received 45 Likes on 35 Posts
Default Re: Everglades going out of business?

David: Glad to see you and other mfg's coming to this sight to dispel rumours that only serve to further harm the industry. Good for you and hope things turn around soon!
Old 02-19-2009, 09:31 AM
  #20  
THT SponsorCaptains Club Member
THT sponsor
 
Join Date: Feb 2003
Location: Beaufort, NC
Posts: 466
Likes: 0
Received 0 Likes on 0 Posts
Default Re: Everglades going out of business?

Were there is smoke, there is fire! Hold on Everglades we all hope everything works out in this industry, you guys build a great boat and I personally want to see them around.

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.