Fountain Files Chapter 11

N.C. boat firm seeks bankruptcy protection "Until recently, boat-building had been seen as a growth industry in North Carolina. In the middle of this decade, 28 boat manufacturers started in the state or moved here, in large part to take advantage of workers' expertise in furniture manufacturing. Also, costs are lower here than in Florida or other rival states. However, the boat market is cyclical, and the recession has depressed demand for boats."