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Genmar bankruptcy filing catches boating industry by surprise

Updated: November 5, 2009, 11:08 AM ET
By Colin Moore | Special to ESPNOutdoors.com

The announcement that Genmar, the country's second largest boat manufacturer, has filed for Chapter 11 bankruptcy protection sent shockwaves through the boating industry.

However, the rumors that the various companies it owns might be going under are unfounded, according to the manager of one of its best-known brands.

The filing was confirmed Monday by Genmar Holdings Chairman Irwin Jacobs and first reported by the Minneapolis Star Tribune.

"Even up until the last few weeks, ...

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