Brands rise from the ashes

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USWatercraft, based in Warren, Rhode Island and the builder and marketer of Alerion Yachts, C&C Yachts, True North Yachts, and North Rip Boats, and a licensed builder of several JBoat models, went into receivership in 2017 by order of the Rhode Island Superior Court in Providence County.

An auction later that year was held to recover value from the assets, with the Alerion brand as the most notable piece to have been picked up. However, what funds were received were not enough to pay legally required employee expenses, past due landlord rent, receiver costs, or creditors.

However, now over a year later, movement of a couple more pieces has occurred:

• Catalina Yachts has acquired True North Yachts which marks Catalina’s entry into the growing market segment of Downeast – style powerboats. The molds for the True North 34 , True North 34 Outboard Express and True North 38 are being moved to the Catalina Yacht plant in Largo, Florida.

• The C&C Yachts brand, which had been resurrected in 2014 by USWatercraft through the launch of the C&C 30 One Design and the C&C Redline 41, has returned to past president Randy Borges under his business Waterline Systems. Borges has re-acquired the exclusive rights to the C&C Yachts name and existing tooling for his business based in North Kingstown, Rhode Island.

Source: sailingscuttlebutt

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