[PCW] Trouble at PDQ

[Sanford Kramer]

I have heard from a few sources that PDQ has closed it's doors. I have
found this post from another source and I'll post it here. Having met
with many of the fine folks involved with PDQ Yachts, I wish them well.
Sanford Kramer



As a PDQ owner, I received the following email yesterday from one of its
brokers.

"This week we were notified by PDQ management that they were "closing
their doors" until a buyout by new investors can be finalized.

In spite of the PDQ's popularity and success in the market, it appears
that a number of factors have all combined at the same time to force PDQ
into this action.

PDQ's profitability has been eroding rapidly due to the significant
increases in material costs, the historic devaluation of the US dollar
(vs the Canadian dollar) and the recent slowdown in the entire
recreational boating market has effectively dried up new orders. As you
know, pricing on the new PDQ's has escalated in the last twelve months,
but has not kept up with their costs and has left them with insufficient
cash to continue operating.

This is obviously a very sad day for [us], but more so for the
outstanding PDQ employees with which we have had the opportunity to
work. For those of you who have had contact with the PDQ staff, I think
you will agree that we could not find a more professional or dedicated
group of people in the industry! The PDQ team developed an outstanding
product and they were very proud to deliver and support it.

The good news is that [xx], who has been the VP of Marketing, is leading
a buyout of the company by a group of private investors. It will take
some time for the details of this buyout to be completed, but [we are]
optimistic that PDQ will be back in operation, with adequate capital to
continue producing the PDQ product line. We sincerely hope that the new
investors will keep the core design, production, commissioning and
marketing staff intact (that is their plan) as they were an incredible
team and certainly stood out as "the best" in the industry. "