Many RM yachts on order
Although the financial health of Fora Marine, the builder of RM sailboats, necessitated its receivership and led to its purchase by the Grand Large group, its commercial situation was good. At the time of the sale, the order book showed 28 boats and 25 customers (some professionals were waiting for several units). " The drama of RM is its commercial success! "explains Stéphan Constance, co-founder of the Grand Large group. " This is an unprecedented situation, because in general, when a company is taken over that is not doing well, there are almost no customers left. When we took over Garcia, there were no customers left. "
Advance payments definitely lost
Although the Grand Large group took over the shipyard, it did not take over the debts. " It was impossible to take over the customers' contracts. We told the court. This would have led us to file for bankruptcy again within a few months. "summarizes Stéphan Constance. However, the deposits paid by the clients remain with the company. Depending on the progress of the yacht's construction and the negotiation of the contract, the part paid can reach up to 50% of the price of the finished boat. They represent a total of 2.1 Meuros.
Fora Marine offers a discount on a new boat
For customers engaged with the former management, the yard offers to reorder a new RM under special conditions and with priority on delivery. A commercial discount corresponding to a percentage of the deposit paid is applied on the last published tariff in October 2019. According to some customers, the initial proposal was 22% of the deposit. It is now 50% of the deposit says Stephan Constance. " It is necessary to place a new order because there was no longer any legal link after the bankruptcy. It is done on the basis of the last tariff in force. The good news is that there is no increase. The bad news is that it can be more expensive than the 1st signed tariff, depending on the commercial discounts obtained or the initial date of purchase of the boats. But on our side, we cannot assume the inconsistent prices that led to the bankruptcy. It is a dramatic situation with customers who paid large deposits just a few days before the company filed for bankruptcy, but we are still putting 1 million euros on the table: 500,000 euros corresponding to the purchase of work-in-progress and 500,000 euros in commercial discounts from the Grand Large group. "
Navigation dreams to be revised
In its takeover press release, Grand Large indicated that it attached particular importance to customer relations. The reception of its proposal seems very mixed. " This ranges from "Great. Thanks" to physical threats. There are order confirmations in progress and other situations that are humanly more complex. We have set a rule that is objective, without analysis of particular cases, with an effort proportional to the loss encountered "summarizes Stéphan Constance.
For clients who contacted BoatIndustry, the analysis is more dry. The owner's forum has seen a lot of feedback, and foreign clients are organizing with lawyers. " It is a legal practice, but we are asked to buy back a boat that will cost us in the end for some 1.5 times its initial price. Personally, I think I will decline the proposal. It doesn't make sense to buy a boat for that much money. Maybe I'll think about second-hand boats "summarizes one customer.
Another testifies to the end of his dream: " I let you imagine all the steps that we go through when we paid a good part of our savings in the acquisition of a boat which was the result of a dream for our family. Alas, our round-the-world trip will not materialize, the buyers having decided to increase their rates considerably and to recover only a part of the deposits paid. We will not be able to follow. "
If the takeover equation is still complex, let's hope that the boaters left behind will really allow Fora Marine to get back on track. Let's remember that the takeover project sets a target of 14 boats for August 2020.
