ICON Yachts is one of the well-recognized Dutch shipbuilding companies having its headquarters in Harlingen, Netherlands. The company is ideally positioned as the leading service provider of new builds and refits to the industry. In 2009, ICON Yachts has been awarded for its highest quality management systems by LIoyd’s Register. That was the introduction part; now let’s talk about the things that went wrong with ICON Yachtsand why does things went wrong.
Ship building is hard industry to survive in; its grand functioning and sensitivity makes it the victim of a number of uncertainties. No matter how large the company is, shipbuilding industry can make any player sink. That is what happened with Icon Yachts. In early 2014, ICON Yachts went bankrupt due to the lack of business and it could happen to any company. There were no orders for two long years and that caused heavy damage to the core of the company.
Company was fragile against the economical fluctuations and when things start to fall apart no one can really help it, not even the biggest players in the industry. The investors and operators of the ICON couldn’t really do anything, though they were bashed badly by the outsiders who practically have zero idea about the things. The company is owned by Ton Van Dam, who is a reputable personality and knows each and every aspect of the market. With years of expertise in the field, Ton Van Dam has earned its great reputation in the industry.
Even the person like Ton Van Dam couldn’t help it by any means and he chose bankruptcy over a bundle of liabilities. He has discovered very early that the Yacht industry is sensitive to economic fluctuations and when business will start to slow down, he wouldn’t be able to pull things off. He has been remarkably open the fact about bankruptcy and many other aspects.
He has openly represented many facts regarding why settlement turned didn’t work. People need to understand the situation instead of saying that Ton Van Dam failed to do his bit. He and some Russian investor filled the damage by putting the money in the company when it was on the urge of getting shut. He still thinks that there are more positives to come with this company and he is stick to it.