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The revitalized Thompson Boat at St. Charles slowly rebuilt, but bankruptcy was declared in 1993. A new owner came in and got the firm going again. By about 1997 regular production ceased and all boat production stopped by 2000 or 2001. A liquidation auction in 2002 signaled the end of almost 100 years of boat building history. [6] [7]
The boat was built-to-order only, at a price of US$2.05 million. [2] XSMG went into compulsory liquidation and was dissolved on 12th May 2015. [3] At least one completed boat was auctioned off among other items from the company by HMRC to pay of tax debts in August
He was the CEO of several large corporations, including the boat-building company Genmar Holdings. [1] He earned the nickname "Irv the Liquidator" for his aggressive business practices in the 1970s and early 1980s. [2] In 1973, Jacobs founded COMB ("Close-out Merchandise Buyers"), a catalog-based mail-order retailer.
The new boat was unreliable in its first season [citation needed], though, spending several weeks out of commission. The state eventually sued the boat builder [citation needed]. The state was unsuccessful in its attempt to sell the retired ferry, the Colsac II, using an Internet auction, [7] so the boat was eventually sold for scrap.
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1997 Liquidation of Honnor Marine. Assets sold to Bob Brown, including all the plugs, which are the items for making new moulds as well as all the boat fittings and spars. Bob Brown moves the business up to the North of England where Honnor Marine starts producing the drascombe range under the brand name “The Original Devon Range”. [11]
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