Robert E. Derecktor Inc. files for bankruptcy, Derecktor Florida is unaffected

    
Tuesday, 28 February 2012

Robert E. Derecktor Inc., located in Mamaroneck, NY, announced today that it is seeking protection under the Chapter 11 bankruptcy and reorganization laws. A protracted legal battle with the State of Alaska regarding vendor-related issues unconnected to the yard's workmanship on a project completed in 2005, together with the depressed economy, has put a significant strain on the company's finances. This action is unrelated to recent events involving Derecktor Shipyard Conn. LLC, located in Bridgeport, CT.

Robert E. Derecktor, Inc. is seeking to reorganize while continuing to offer the same high quality custom new construction and service offerings for which it has been synonymous for over 65 years. In addition to the 40 boats in winter storage, the yard has several yacht refits and commercial service projects underway, including work on several New York Water Taxi vessels. Derecktor craftsmen are also engaged in off-site millwork projects as well as outfitting the Presto series of sailboats.

Separately, Derecktor of Florida, located in Dania Beach, FL, is unaffected by the filing in Mamaroneck. Derecktor of Florida has sustained it's position as a leading member of the South Florida marine industry, recently reporting very strong growth in yacht repair and re-fit revenues in 2011, up almost 50% over the prior year. Building on this momentum, the company is investing in a major upgrade of its hauling/transfer capabilities and electrical infrastructure in 2012. The Florida yard remains dedicated to providing outstanding service and refit offerings to the global mega-yacht community.

Derecktor
James Brewer
+ 954 920 5756
jamesb@derecktor.com
www.derecktor.com