sail-world.com
 
 
News Home Cruising Photo Gallery Video 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.sail-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.


News - USA and the World









International Moth Worlds: Rashley ahead as Aussies close in by Mark Jardine / YachtsandYachting.com,


















International Moth Worlds - Mothballed on day 4 + Video by Mark Jardine / YachtsandYachting.com,




Gladwell's Line: A change of direction needed in the America's Cup *Feature by Richard Gladwell/Sail-World.com/nz,
























Anna Tunnicliffe set to compete at the CrossFit Games by Anna Tunnicliffe, Pittsburgh, PA












U.S. Junior Women’s Singlehanded Championship - Sophia Reineke wins
BIC Techno 293 Worlds 2014 - Day 0 Opening
Fuerteventura World Cup - Slalom action highlights day 2
2014 Governor's Cup - Sam Gilmour of RFBYC victorious again
Farr 40 West Coast Champ - Skipper Alberto Rossi leads Enfant Terrible
Flying Dutchman World Championships - Magyars are the Masters
Final day shakes up standings at Cape Panwa Hotel Phuket Raceweek
2014 -15 Volvo Ocean Race: Team Alvimedica pushing towards Southampton
NYYC Race Week - Saving the best for last
VX One North American Championship - Chris Alexander commands
2014 Cape Panwa Hotel Phuket Raceweek - Waiting game on Day 3
International Moth Worlds: Thunderstorms delay racing on Day 1
Fuerteventura World Cup - Impressive tricks on day 1
2014 Governor's Cup - Two former winners in the finals
America's Cup: Iain Murray explains reasons for Australian withdrawal *Feature
Wilson and Roble remain number one match racers in U.S.
2014 ISAF Youth Match Racing World Championship - Set to start
PWA Pozo World Cup - Moreno twins dominate home spot
ISAF Youth Worlds - Record breaking regatta in Tavira + Video
Melges 32 European Championship - Robertissima remains out front
Farr 40 West Coast Championship - Italians take one-point lead   
Melges 32 European Championship - Day 3 images by Carlo Borlenghi   
New York Yacht Club Race Week - Marstrom 32 fleet off to anxious start   
Melges 32 European Championship - Day 3 images by Max Ranchi   
CYC Race to Mackinac - Cruising fleet sets sail in 106th edition   
Team Alvimedica getting a touchup   
PWA Pozo World Cup - Plenty of drama on day 5   
ISAF Youth Sailing World Championship - Day 5 Videos   
NYYC Race Week - High performance classes put on shoreside show   
2014 Pacific Cup - 'Invisible Hand' the first boat to finish   
Clipper Round the World Yacht Race - B.C.'s Eric Holden skippers wins   
America's Cup: Updates on Team Australia withdraw   
J/70 North American titles - Brian Keane moves to top of leaderboard   
2016-2017 America's Cup - Team Australia withdraws   
VX One North American Championship - Chris Alexander takes charge   
America's Cup: Team NZ disappointed, but on track after Australians go   
America's Cup: Hamilton Island decides not to proceed with Challenge.   
America's Cup: Challenger of Record withdraws from Regatta   
WWA Wakeboard National Championships head to Waco   
Farr 40 West Coast Championship - Day 2   


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/FaceBook-icon.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 NEW US
LocalAds   DE  ES  FR  IT