Buyer found for the troubled business, after fire sale of company's assets called off at the last minute
The future of Crownline has been secured after a buyer came forward for the business, it was announced today.
The well-known US maker of sportscruisers has been purchased by Tony Zielinski, owner of Leisure Properties LLC, and Dave Wilson, owner of Misty Harbour and Ultracraft, for an undisclosed sum.
The builder fell into difficulty last year after seeing sales slump, and announced a factory shutdown in December.
The plant was expected to reopen in March, but the shutdown was extended until June.
But when June came, the company announced that the factory, in Franklin County, Illinois, would remain shuttered.
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A fire sale of the company’s assets had been planned , but was cancelled at the last minute, without explanation.
With this news, however, it would seem Crownline has been saved from extinction.
“Crownline is very excited about our team’s future and all the possibilities this exciting new opportunity brings with it,” the company said in a statement.
“We look forward to the opportunity to reconnect with all of our valued Crownline dealer partners and our employees as we move forward into the future.”