This seems like an interesting development. Grand Large Yachting, a French conglomerate formed in 2003 that specializes in turning around distressed boatbuilders, was the prevailing bidder at a bankruptcy auction held this month for Gunboat, the luxury performance catamaran builder founded by Peter Johnstone. Reportedly Grand Large will put up $910K in cash and is...

There were a lot of subterranean rumors flying around the show in Annapolis last October about big trouble at Gunboat, so I wasn’t too surprised when the company announced the following month that they were filing for Chapter 11 bankruptcy (to reorganize rather than liquidate). Boatbuilding has always been a skin-of-the-teeth business and Gunboat had...