Trev Terry Marine boat business goes into receivership
by Brian Neeley March 7, 2024 in News
Trev Terry Marine boat business goes into receivership
The receiver of the family-owned boat business, which bought long-standing Napier company Firman Marine less than two years ago, is hoping to find a buyer despite some tough economic conditions.
Taupo-based Trave Terry Marine went into receivership on February 23, but is still trading amid hopes of a sale.
Natalie Buret of Auckland-based receivers Caliber Partners said it was too early to say what was causing the company’s troubles, but, already indicating some sales interest, she pointed out: “It’s a tough market for a boatyard. Is”.
“We already have some interest,” he said. “There are some contacts we know of and we will also be running a promotional campaign.”
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The company was founded in 1990 and now has 67 employees in Taupo and Kinloch, Turangi, Napier, Invercargill and Wanaka, selling boats and Weber barbecues and operating marine servicing workshops.
Firman Marine had operated at the Pandora Road site in Napier for over 50 years before moving to Prebenson Dr, where the acquisition of Treve Terry Marine took effect on November 1, 2022.
But the purchase did not include Firman’s profile boatbuilding business, which continued to be run by Brian Firman and his team from a nearby factory in Niven St, Onekawa.
Trev Terry Marine’s continuation during the crisis includes an appearance at the Wanaka Boat Show this week.
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Buret said the first receivers’ report, due in a few months, will provide more information about who is owed money and what may be causing the business’s problems.
The company says its workshop is “still going strong, and we are proud to be your trusted partner in keeping your boats in top shape”.
Doug Lang is a senior reporter based in Napier with Hawke’s Bay Today, and has over 50 years of journalism experience in news gathering including breaking news, sports, local events, issues and personalities.
Source: www.nzherald.co.nz
