Whidbey Island boat builder abruptly shuts its doors
Published 5:06 pm Friday, November 2, 2007
FREELAND — Nichols Brothers Boat Builders Inc.., one of Whidbey Island’s largest employers, abruptly closed its doors today, citing financial problems and a pending lawsuit.
The company, which has employed around 250 people in recent years at facilities in Freeland and Langley, told workers today they were now without jobs.
“NBBBI has faced significant financial challenges in recent years and has sought additional capital to assist in restructuring the company,” officials said in a news release. “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.”
Nichols is the third largest employer on the island and has operated for 43 years.
In recent years, many small boat builders have closed their doors.
The company carved out a niche in producing ferries for communities and private companies, and also won contracts from the Navy for some experimental high speed vessels.
The shipbuilder in July joined in a partnership brokered by Gov. Chris Gregoire to share the work in a $348 million contract building new vessels for Washington State Ferries. The agreement established Todd Pacific Shipyards Corp. of Seattle as lead contractor with J.M. Martinac Shipbuilding Corp. of Tacoma and Nichols as the primary subcontractor in building up to four 144-vehicle ferries.
The three shipbuilders had previously competed for the ferry construction contract.
The Herald is looking for employees who would like to talk about the announcement and their work there. Please call Michelle Dunlop at 425-339-3459 or e-mail mdunlop@heraldnet.com.
