Please select your home edition
Edition
Zhik Isotak Ocean

Andrew Short Marine closes its doors

by Jeni Bone on 6 Oct 2011
Matthew Short. Bob Wonders
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.'
Barz Optics - San Juan Worlds Best EyewearNaiadMackay Boats

Related Articles

New addition to North Sail for Volvo Ocean 65 racing machines
Their sails have powered eight out of nine Volvo Ocean Race winners since 1989-90, with Steinlager 2. Instead of assembling cloth panels into a particular sail shape, the Volvo Ocean Race sails are composites. This means that 3Di material 'tapes' are laid in a specific arrangement, offering stable structure to the sail where it is needed most.
Posted on 24 Apr
Crewsaver appointed as Official Safety Provider to 35th America’s Cup
Crewsaver has announced today that it has been selected to be the Official Safety Provider to the 35th America’s Cup Crewsaver has announced today, 21st April 2017, that it has been selected to be the Official Safety Provider to the 35th America’s Cup, which will take place in Bermuda from 26th May to 27th June 2017.
Posted on 22 Apr
Marine Resources expands Boatbuilding Team with two key appointments
Marine Resources have recently expanded their in-house boatbuilding team, with the addition of two new key members. Leading leisure marine industry and luxury yacht recruitment specialists Marine Resources have recently expanded their in-house boatbuilding team, with the addition of two new key members.
Posted on 16 Mar
Southern Spars takes to the air with new composite engineering project
One of the challenges for companies who have had their roots in the marine industry is diversification beyond that field One of the challenges for companies who have had their roots in the marine industry is diversification beyond that field. Moving into the composites engineering for non-marine projects is becoming a more common occurrence as clients realise the opportunities from utilising the expertise of composite boat and spar builders.
Posted on 8 Mar
New Xperformance - Optimising the cruiser/racer range from X-Yachts
X-Yachts have built a wide range of 'Cruiser/Racers' as well as dedicated racing yachts which have won many Intl titles Since the company was founded back in 1979, X-Yachts have built a wide range of 'Cruiser/Racers' as well as dedicated racing yachts which have won many famous International titles, and of course One Design Class yachts such as X-79 and X-99
Posted on 14 Feb
World Sailing unites Kiteboarding governing bodies
World Sailing has today signed a landmark agreement with the IKA and the GKA to unite the kiteboarding community World Sailing has today signed a landmark agreement with the International Kiteboarding Association (IKA) and the Global Kitesports Association (GKA) to unite the kiteboarding community and provide clarity of kiteboarding's governance structure.
Posted on 13 Feb
On board interview with Lisa Blair - solo Antartica circumnavigation
So far, Lisa is tracking very well in her attempt to become the first woman to sail solo around Antartica. So far, Lisa is tracking very well in her attempt to become the first woman to sail solo around Antartica. After the setbacks of a delayed departure due to gremlins in the electronics, we are delighted to have these answers from her on board. She is well and enjoying her time. Climate Action Now, her Hick 50, left Albany in Western Australia on January 22, 2017.
Posted on 8 Feb
The price of legacy
Malcolm Page OAM, two-time Olympic Gold Medallist, became the Chief of Olympic Sailing for the USA on January 1 Malcolm Page OAM, two-time Olympic Gold Medallist (470) with Nathan Wilmot in 2008 and Mat Belcher in 2012, became the Chief of Olympic Sailing for the USA on January 1 this year. In and of itself it is hardly the freshest news, and well and truly yesterday’s fish wrapper. It was also a wise choice on behalf of Team USA, for he has succeeded in both the physical and commercial arms of our sport.
Posted on 5 Feb
Zhik becomes Official Clothing Partner to the Extreme Sailing Series
Extreme Sailing Series™ has established an exciting new partnership with the high-performance clothing brand, Zhik. As it enters the 2017 season, the Extreme Sailing Series™ has established an exciting new partnership with the high-performance clothing brand, Zhik.
Posted on 2 Feb
World Sailing headquarters to relocate to London
World Sailing's headquarters will relocate from Southampton to central London, UK in late summer 2017. World Sailing's headquarters will relocate from Southampton to central London, UK in late summer 2017. The selection of London as the new home for the International Federation comes after an extensive evaluation process of possible locations undertaken since the election of a new President and Board of Directors in November 2016.
Posted on 1 Feb