Vancouver-based yacht builder Christensen Shipyards ceased production operations in early February after struggling with an ownership restructure and financial conditions, according to news reports in The Columbian newspaper.
The latest financial hurdle came in mid-February when a supplier sued the yard over nearly $1 million in unpaid bills.
Other companies have made initial filings naming Christensen as a debtor, the newspaper reported. It was unclear what the status was of several yachts in the yard under construction. The newspaper quoted John Cochran, a Christensen project manager for M/Y Missing Link, as saying work will continue on that vessel.