Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Thursday, October 9, 2008 Meridian Yachts to shut down; hundreds to lose jobs By Mike Benbow Herald Writer ARLINGTON -- Meridian Yachts, one of north Snohomish County’s largest employers, will close its doors within 60 days because of a dramatic decline in boat sales, employees were told today. The company has more than 600 hourly employees, another 230 administrative positions and some research and development workers. Nearly all will lose their jobs. “Our hearts go out to them,” said Dan Kubera, director of corporate relations for the Brunswick Corp., which owns the plant. “It’s a decision that had to be made.” Kubera said the company planned to cut four plants next year and hastened that decision because of plummeting sales in July and August. “At the first of the year, sales were down 30 percent,” he said. “In the last two months, sales have dropped 40 percent.” He said the company has tried to slow the number of boats at its distributors in a number of ways. This summer, it idled workers in Arlington for a month starting on July 28, because of a drop in sales caused by inflation, high gas prices and consumer confidence eroded by an uncertain economy. The closure was announced at an employee meeting in the plant at 11:30 a.m. today. “We will actively work to help them,” Kubera said. Workers were told the company will try to keep them working for another 60 days, but that the plant may shut down before then. Formerly a Bayliner boat plant, the Arlington facility has made 34- to 58-foot motor yachts under the Meridian brand since 2002. Brunswick is the world’s largest maker of pleasure boats and the owner of a wide range of brands, including Meridian, Bayliner and Boston Whaler. The declining economy pushed Olympic Boat Centers, one of the largest boat sellers in the Pacific Northwest, into Chapter 11 bankruptcy earlier this year. Last month Brunswick agreed to pay $2 million for some of its assets, including its name. In a news release, it said it had also arranged to transfer some of the Olympic inventory to other distributors in the region, including Lake Union Sea Ray in Seattle. READER COMMENTS Be the first to comment. You must be a registered user and verify your e-mail address to post comments to blogs or articles on HeraldNet. To register, click here. To read other terms and conditions, click here. Log out

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