Interview / RM Sailboats: The manager explains the receivership of the shipyard

RM Sailboat

Olivier Gainon, CEO of Fora Marine, the manufacturer of RM sailboats, explains to BoatIndustry the reasons that led to the company going into receivership.

OFCET's bankruptcy puts Fora Marine in difficulty

The Fora Marine shipyard, based in La Rochelle, has been building epoxy plywood sailboats since 1989. He has requested in early December 2019 that it be placed in receivership . Its CEO since January 2019, Olivier Gainon, explains the process that led to this procedure by the failure of a local subcontractor. " In July 2019, we were the victim of an industrial accident, namely the bankruptcy of the OFCET site . He built for us the composite high planks of the new RM11.80. Faced with the difficulty of finding a new subcontractor in the La Rochelle region, we wanted to internalize the process, because we had the necessary square meters. Unfortunately, it has been longer and more complicated than expected. We had to stop production for 1 month, causing delays in the delivery of the boats, thus degrading the economic results. "

A shipyard that is too fragile

The financial structure of the site is then damaged. " Our working capital requirement was too high and equity too low. The company was too fragile for this kind of industrial accident. To restore the brand, the sale of titles is then studied and consultations are opened. Different actors came to see. When we asked for structured offers, suppliers and customers were concerned, causing payment difficulties. We then requested placement in receivership. What is annoying is that we are not paying for a bad product or a bad positioning, but the fragility of the company "sums up Olivier Gainon.

Several takeover offers expected for RM sailboats

The manager is nevertheless optimistic and expects several applications to take over Fora Marine. " There will surely be a resumption or continuation of the activity. A structured offer has already been submitted and other players have indicated to me that they will position themselves. It will now depend on the court, but there is a strong brand with a well-filled order book and beautiful boats. "