November 4, 2007
Nichols Brothers closes doors
Nichols Brothers Boat Builders, Inc., Whidbey Island, Wash., sent its workers home Friday and closed its doors, citing financial problems and pending litigation.
"NBBBI has faced significant financial challenges in recent years and has sought additional capital to assist in restructuring the company," the company said in a news release picked up in the local media. "Those efforts have been unsuccessful, due in part to pending litigation and cash-flow challenges ultimately forced NBBBI to make the difficult decision to close its doors."
About 250 workers have lost their jobs as a result of the move.
It's unclear what will happen to projects currently in the yard or on order which, according to data on www.coltoncompany.com, include three z-drive tugs for Bay Delta Marine and two 149-passenger ferries for the Bay Area Water Transit Authority.
Nichols is also participating in the current Washington State Ferries newbuilding program, but as a sub contractor to Todd Pacific Shipyards.