> Powerboat-World.com
 
 
News Home Video Gallery Newsletters Features FishingBoating MarineBusiness-World Sail-World Australia Australian Cruising
Photo Gallery

 

Sail-World.com : Andrew Short Marine closes its doors

Andrew Short Marine closes its doors

'Matthew Short.'    Bob Wonders    Click Here to view large photo
Iconic Sydney dealership, Andrew Short Marine has gone into liquidation, only days before the second anniversary of Andrew Short's death in a yachting accident.

A devastated Matthew Short, who joined the family firm to assist MD, Kylie Short following the death of his brother Andrew in 2009, confirmed the company was no longer trading after shutting its doors for the final time last Thursday.

Matthew Short said that the demise of this iconic company was due to 'the loss of Andrew in the yachting tragedy' among other factors.

'Andrew was a hands on operator and was exceptionally good at his trade and was unable to be replaced. The Global Financial Crisis saw ASM with extensive and expensive 'trade in' stock and aged new floor stock which could not be sold at anywhere near the' trade in' values given on sale of the new boats.'

Added to that, the prevalence of the 'Grey Import' market with cheap USA distressed stock purchased over the internet, which Matthew said 'has all but killed the domestic market for second hand boats'.

'Then there is the exceptionally high interest rates charged on floor plan combined with the over priced stock compounded the problem of viability,' he continued. 'Financiers were unsympathetic to additional loans as required at a critical time when a shortfall in funds was evident months before it came to reality. This is understandable in our current economic climate.'

All these issues were compounded by what Matthew described as 'the stigma of people associating ASM as being in receivership, when ASM wasn't in receivership'.

'That finally diminished the company's ability to trade on as the public lost confidence in the company, plus the departure of key staff at critical times leaving a void within the company.'




by Jeni Bone

  

Click on the FB Like link to post this story to your FB wall

http://www.powerboat-world.com/index.cfm?nid=89242

4:21 AM Thu 6 Oct 2011 GMT






Click here for printer friendly version
Click here to send us feedback or comments about this story.


Power Boat News















Running on Pure Adrenalin by Sanctuary Cove International Boat Show,


Singapore Yacht Show – it’s a wrap. by Guy Nowell, Sail-World Asia, Hong Kong






Pontoon Boats are a hit with families and entertainers by Sanctuary Cove International Boat Show,










Glacier Bay returns to Australia, re-launching at SCIBS by Sanctuary Cove International Boat Show,








Singapore Yacht Show 2014. Boats to make your eyes pop. by Guy Nowell, Sail-World Asia, Singapore










Power to the people at Sanctuary Cove International Boat Show by Sanctuary Cove International Boat Show,


SCIBS VIP lounge back bigger and better in 2014 by Sanctuary Cove International Boat Show,




Singapore Yacht Show 2014. And another thing… by Guy Nowell, Sail-World Asia, Singapore










UIM XCAT World Series - Lady Spain set for XCAT debut in Napoli
Cyclone Ita predicted to reach Category 4 off Far North Queensland
Charlotte Harbor Super Boat Grand Prix - 2014 Season Opener
Mercury’s new Verado 200hp Pro FourStroke – delivering even more
Stars emerge for Sydney International Boat Show *Feature
Living ship-shape on the 1.4km $10bn floating city
Hop online to get your fishing permit this Easter
Greg Norman announces global investor campaign for Great Keppel Island
Luxury Yacht Share Asia (LYSA) introduces fractional ownership to Asia
Humpback Whales - Non Lethal research
RYA Competent Crew Skills – Second edition now available
Mondo Marine invests in Chinese shipyard
Aqualuma partners with ASMEX 2014 for Welcome function
Kaohsiung to welcome the world for 1st Taiwan International Boat Show *Feature
Changed boating conditions for ski race on Clarence River
Royal Victoria Cup - Cable, Hockney and Shipley victorious
Channel 7 stage returns to Sanctuary Cove International Boat Show
Hainan Rendezvous: suffering from a hangover?
Palm Beach International Boat Show shows healthy attendance
Brisbane Tinnie & Tackle Show - this weekend!
Coastal infrastructure and species loss - Climate Change consequences *Feature   
rescueME PLB1 – safety assured in one compact, light package *Feature   
Japan's Antarctic whaling program harpooned   
All Marine Spares hits the boat show trail in a trailer *Feature   
Royal Victoria Cup to take place this weekend   
Rowers and ferry masters encouraged to share waterways safely   
Go crazy about whales in a special family fun day at the museum   
New generation trawler boats - tradition with a twist   
Arvor releases new Sportsfish range   
AIMEX focuses on commercial show in Asia   
Further Australian growth for Stabicraft   
Southport Yacht Club will host a free 'Discover Sailing Day'   
Melbourne Boat Show earlier this year - 12 to 16 June   
FinScan digital switching fitted to new rescue vessels   
Kids' Zone a drawcard at Brisbane Tinnie & Tackle Show   
Brisbane Tinnie & Tackle welcomes Engel as stage sponsor   
BIAV appoints new GM   
Trash to Treasure - A seafood story   
Amazing Whales – Evolution and survival opens tomorrow   
Maritime Alert - Dangerous conditions forecast for NSW boaters   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png   http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL WAS PBW