Info Aqualung Financial Troubles

[Divin'Papaw]

Barings has stopped all production and let everyone go. Barings has sold all remaining inventory. Now there is no one (or place) left to make anything. If no buyer steps up, where will you buy anything for repairs?

Aqualung Group Reorganizes North American Operations, Will Lay Off 60 Employees - DeeperBlue.com

In a sweeping reorganization of its North American operations, Aqualung Group will lay off 60 US-based employees and close its facilities in California and Hawaii.

www.deeperblue.com

I think you are making an overly broad generalization and stating things as fact that are simply not true. I fully expected changes to be made in efforts to make Aqualung financially viable once again. None of this reorganization surprises me. Actually, if they were not making operational changes to drive efficiency and improve their finances, THAT would worry me.

 

[formernuke]

That doesn't make sense. They have large government contracts for apeks.

 

[scubadada]

Aqualung Group Reorganizes North American Operations, Will Lay Off 60 Employees - DeeperBlue.com

In a sweeping reorganization of its North American operations, Aqualung Group will lay off 60 US-based employees and close its facilities in California and Hawaii.

www.deeperblue.com

Hi @Stingrayvilla

This was last December, nearly 6 months ago. Do you have follow up? Where was the East Coast Aqualung headquarters located? The website still lists the US headquarters as in Carlsbad, CA.

I find little to no information available since the acquisition by Barings was completed, nothing like what you stated above

Info - Aqualung Financial Troubles

Aqualung bought it in 2016. I don't think they've sold it yet. Everything is owned by the majority lender Barings. They now own everything under the Aqualung Group. They are trying to recoup their loans to Aqualung by selling everything off. They are not the people to try to run any of the...

scubaboard.com

Info - Aqualung Financial Troubles

Barings has stopped all production and let everyone go. Barings has sold all remaining inventory. Now there is no one (or place) left to make anything. If no buyer steps up, where will you buy anything for repairs? This is official for AL and APEKS?

scubaboard.com

 

[runsongas]

They might not bother to restart a physical office/warehouse in the US. Just drop ship from the EU to dealers and have sales/support work remote/WFH.

 

[scubadada]

They might not bother to restart a physical office/warehouse in the US. Just drop ship from the EU to dealers and have sales/support work remote/WFH.

The reorganization article mentioned decreasing from 83 to 23 employees, 16 remote and 7 at the new facility.

 

[runsongas]

the article also said they planned an east coast distribution office, which presumably would be where the website would be updated to from the old carlsbad address. but that hasn't happened, so they may have dropped those plans.

 

[-JD-]

the article also said they planned an east coast distribution office, which presumably would be where the website would be updated to from the old carlsbad address. but that hasn't happened, so they may have dropped those plans.

... or laid off the IT 'guy'.

 

[TravisD]

Guessing it'll be a Delaware "hq" for tax reasons... and probably an office in Tysons/Fairfax area to be close to the Gov't/Defense folks.

 

[thomschoon]

Guessing it'll be a Delaware "hq" for tax reasons... and probably an office in Tysons/Fairfax area to be close to the Gov't/Defense folks.

If we are going to take guesses on location, I would say close to a port to receive containers and a distribution network close to volume customers. My guess would be North Florida, Carolinas, or Houston. Just because they all have reasonable warehouse space and highway shipping lanes. Drop shipping from EU doesn’t pan out unless you have really high margins and value.

Office space in DC is horrendously expensive, but not knowing the value of the military spend as it might justify it.

It will be interesting to watch as this is not a billion dollar business that has cash to burn.

 

[-JD-]

If we are going to take guesses on location, I would say close to a port to receive containers and a distribution network close to volume customers. My guess would be North Florida, Carolinas, or Houston. Just because they all have reasonable warehouse space and highway shipping lanes. Drop shipping from EU doesn’t pan out unless you have really high margins and value.

Office space in DC is horrendously expensive, but not knowing the value of the military spend as it might justify it.

It will be interesting to watch as this is not a billion dollar business that has cash to burn.

Port of Baltimore would work too as an extremely hi-volume destination (despite the recent issues) with an HQ/Warehouse in VA, MD, DE. Short trip for product to the warehouse from the port and easy daytrip access for schmoozing in greater DC.