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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