Workers arrived early Monday morning to start their day at Christensen Shipyards, the Vancouver-based builder of custom yachts, only to find the gates locked.
The manufacturing plant was closed, although it appeared that workers were remaining at a nearby site where a Christensen yacht, “Missing Link,” sat in the Columbia River nearby.
It’s not the first time the builder of custom yachts has closed down production as it has struggled financially in recent months. Late last year, the company temporarily closed down for a week. Subsequently, operations started up again, but new information added to concerns about Christensen’s financial health.
In the past couple months, several businesses have made initial filings under the Uniform Commercial Code naming Christensen as a debtor and spelling out collateral, public documents show. Meanwhile, the company has informed employees that certain voluntary benefits, including vision insurance, will be terminated or scaled back, according to a company letter dated Feb. 3 that was obtained by The Columbian.
Joe Foggia, president of Christensen, could not be reached for comment Monday by phone or email. Company officials who could be seen in Christensen offices Monday morning relayed through a security guard that they would offer no comment.