Documents detail Fountain’s assets


While court documents show Fountain Powerboat Industries has $3 in assets, Fountain Powerboats, Baja by Fountain and Fountain Dealers’ Factory Superstore, list substantially more assets than their parent company.

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North Carolina-based Fountain Powerboat Industries filed for Chapter 11 bankruptcy protection Monday in U.S. Bankruptcy Court in the Eastern District of North Carolina.

Fountain Powerboats lists nearly $18.4 million in assets, Baja by Fountain lists $3.7 million in assets and Fountain Dealers’ Factory Superstore lists $3.2 million in assets.

Fountain Powerboat Industries’ liabilities are listed as more than $19.6 million, which it owes to Regions Bank. The amounts are broken down as $13.2 million as a term loan to Fountain Powerboats; $4.3 million as floorplan to Fountain Dealer’s Factory Superstore and $2 million as revolver to Fountain Powerboats.

Documents detail Fountain’s assets

Published by Hank Sibley Bluewater Yacht Sales

Hank Sibley Sales Professional Bluewater Yacht Sales Hampton, VA 804.337.1945 (Mobile) 757.788.7082 (Office) 757.723.3329 (Fax)

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