Plasmor files for bankruptcy but already has a buyer
The company Plasmor, builder of kayaks and Skellig sailboats, will file for bankruptcy before the court this Wednesday, October 24, 2018. This is the end of an adventure for Dominique Bourçois, still director of the yard he created more than 40 years ago. Even if he will leave the structure, he can leave reassured for the future of the company. A buyer, a Plasmor customer and entrepreneur, is already in the ranks. The bankruptcy filing should only be an administrative step allowing a new start on a healthier financial basis. "The important thing is that we have secured jobs", explains Sébastien Marin, future manager of the new structure, who has been working for Plasmor for 22 years.
Cash flow problems, despite good sales
Despite a dynamic activity, Plasmor was suffering from cash flow difficulties. The management of the dismissal of 2 employees due to inaptitude validated by the occupational health department turned the situation upside down. "Despite a very satisfactory last fiscal year with a 22% increase in our turnover, this was not enough to overcome a cash flow problem. We are burdened by the large amount of compensation that we had to pay to two employees declared unfit for work by the occupational medicine department," explains Dominique Bourçois. "These are very difficult situations to manage for small companies like us. We also had to replace them, using temporary workers for a time, at a high hourly cost," adds Sébastien Marin.
Plasmor customer support and business continuity
During the autumn trade fairs, Sébastien Marin already told BoatIndustry the support of loyal customers in a crowdfunding operation for the renewal of the range of kayaks and sailboats. It is now reflected in the arrival of a buyer from the customer base. "This has accelerated since the Grand Pavois. We will start by securing jobs before launching new boats. In the meantime, the activity continues and we will be present at the Nautic 2018 with the new structure" reassures Sébastien Marin.
