Out of business - North River Boats!!

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Thread: Out of business - North River Boats!!

  1. #1
    Contributing Member Rick Baerg's Avatar
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    Thumbs down Out of business - North River Boats!!

    I heard this a little while back, thought I would throw it out there!! Is this true information, out of business, has anyone heard for sure??

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    Administrator marko's Avatar
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    The report I saw on the news was not good Rick. They Showed the main
    manufacturing plant being raided and siezed by the IRS. That was about a month and a half ago and heard nothing since.

    Marko

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    VIP Access Sculpin's Avatar
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    Hello Rick,

    Here are some links to more information about this matter.

    http://murphyauctions.net/northriverwa.html

    http://www.bloodydecks.com/forums/wa...s-doors-5.html

    http://media.kpic.com/documents/sw+afdt.pdf

    I haven't been following it for a couple of weeks. Sure is a mess.

    John
    "I'm not talkin bout pleasure boatin or day sailin
    I'm talkin bout workin for a livin". - Captain Quint

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    VIP Access Sandhead's Avatar
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    Cool

    Jet boats and fraud? no it can't be...

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    Contributing Member abbyfireguy's Avatar
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    Sorry Rick. The demise was ugly and the courts will decide if and who goes to jail with any luck.
    I drove down to the Murphy Auction on May 16th. Over 95 boats on the block from 26 Off Shore to 16 foot drifter. Some sweet deals on new boats but the prices on accessories and fishing gear was retail plus. Figure that out? People get out of control at most auctions!
    Kind of sad to see a company end like that .
    Everything was sold right down to the shelving and all tools and manufactureing equipment.
    Nothing left for startup of a new company unfortunately.
    Sadly there are a lot of good skilled people out of work over all this.
    I hope they all land on their feet and can provide for themselves and their families.

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    VIP Access sturg's Avatar
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    northriver boat out of business? What the heck happened?
    <>< fisher of men

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    Contributing Member abbyfireguy's Avatar
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    Owner committed fraud, borrowed more from the bank than he had colateral to borrow. Claimed assets that were already sold and most important,caught the eye of the FBI who raided the place and are like a pitbull when they scent a kill...
    From reading as much as I can about the matter it looks like the owner(former) is up the creek without a paddle(or a jetboat).

    I feel sorry for all his employees for getting stuck working for a prick of an owner, now they and their families are paying for the knob's illegal behaviour. Hope everyone involved lands on their feet and the owner lands in the crowbar hotel to keep some big dudes warm!!!

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    Contributing Member Crazy Drifter's Avatar
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    Okay now I'm confused. I was in at Cascade shopping on Thurs. I was comparing thier stock an sleds compared to others, and to see who had a surplus to sell. I was talking with Wayne and that was one of the questions that I had for him cause I heard the same rumor. he was saying that it was the retail store side of the operation was what went belly up, but the factory was still producing boats and was a seperate entitie. If some one is in the direct know please let me know before I buy a boat that is going to have no backing, sweet deal sitting on the table.
    Cheers,
    Crazy D
    I don' know about you, but my honey- do list never seems to say take the weekend off and go fishing  hmmm. strange how that works

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    VIP Access bluesteele's Avatar
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    North River is out of biz Crazy D. Cascade is right they did close some retail
    stores earlier this year. The company has filed for Bankruptcy they are
    tits up. No pay for the employees from the company. Oregon state recently paid the employees their final paychecks.

    Goes to show ya got to be careful where you get your info from. Hope Cascade has a decent explanation for telling you the manf. was still open cause it aint.

    Bluesteele

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    VIP Access sturg's Avatar
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    there has to be more to the story? does the FBI come in and seize and auction everything off just like that? unless the amount of $$ with just crazy. With the number of North River boats on the river ( mine included) it had to be a profitable business.
    Just my option but theres got to be more to it?
    <>< fisher of men

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