Derecktor Shipyards Files for Chapter 11
Derecktor Shipyards Conn. LLC, based in Bridgeport, Connecticut, has announced that it is seeking protection under the Chapter 11 bankruptcy and reorganization laws.
A depressed economy, the cash drain of investment made in building out the Bridgeport facility, and a recent lack of new construction opportunities, have put a tremendous strain on the company’s finances, according a company press release issued January 21.
The release says that the shipyard is seeking “strategic alternatives”, including an investor or buyer of the yard.
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About the Author
Tom Richardson is the co-director and host of BoatingLocal. Before that he served as the editor of Northeast Boating from 2005 to 2009, and as managing editor of Salt Water Sportsman magazine from 1995 to 2004. He lives, boats and fishes in southeastern Massachusetts with his wife and three kids.
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