When a ship sinks, all fingers are pointed at the captain only. But captain is not always on fault, sometimes its ship’s destiny to sink down and you have to let it go because that is the only way possible. In this hypothesis, ICON Yachts is the ship and Ton Van Dam is the captain. It’s been while, people are saying Ton Van Dam took ICON Yachts into the debts and couldn’t help the company out to the top again. This is the view point of the people who are not familiar with the conditions of ICON Yachts and they don’t know that the people like Ton Van Dam couldn’t do much to save a company which is sensitive to economic fluctuations.
Yes, ICON Yachts went bankrupt in February 2014, but that is because there were no order for last two years and something like this will thrash any business giant leave away the ICON Yachts. Ton Van Dam directed the bankruptcy himself because it is better to let things go before they become unplayable liability. Same happened with the ICON Yachts. There were too many debts on the company and settlement was too complicated to work. Ask any business head and they will tell you that there is no way to overcome from such a situation.
ICON Yachts worked really well from 2005, when it started, to a very long period, but due economical fluctuations and the volatility of the industry it couldn’t thrive further. These things matter a lot in the business scenarios. When economic and industrial situations tighten the grip around the company’s neck, operators and investors can’t really do anything. What they can do is they can look out for better future possibilities and by showing a great amount of interest in the ICON Yachts, Ton Van Dam has made very clear that show is not over yet.
After this ship building company went into bankruptcy, it was Ton Van Dam and few of his associates who managed the tents. They helped ICON Yachts stand again with the heavy investments and these people have substantial interest in the well being of the company. Ton Van Dam is experienced investor, and the case with the investors is that they can smell the good opportunity from far off. Ton Van Dam continuing as the owner is the best course of action for the company because he is the person who has the potential to make this company great again.