Nichols Brothers Closes Doors
Excerpt from the Everett (Washington) Herald Published: Saturday, November 3, 2007:
Shipbuilder calls it quitsClick here for the full story in the Everett Herald.
Citing financial woes, Nichols Bros. of Whidbey Island closed on Friday, idling 250 workers.
By Michelle Dunlop - Herald Writer
FREELAND -- One of Whidbey Island's largest private employers, Nichols Bros. Boat Builders Inc. abruptly laid off its employees and closed its doors Friday, citing financial problems and a pending lawsuit.
The company, which has employed about 250 people in recent years at facilities in Freeland and Langley, had operated on Whidbey Island
"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."
Company Chief Executive Matt Nichols declined comment about closing the business he's led since 1972. Nichols is the third-largest employer on the island and has operated for 43 years.
Over the last year or so I have written several stories about the Nichol's Brothers, the history of their boat yard, and how they contribute to our community. Here's three of the posts:
Nichol's Brothers and Sea Fighter Post #1
Nichol's Brothers and Sea Fighter Post #2
Nichol's Brothers and Sea Fighter Post #3
I know the Nichol's family and all the Nichols brothers well, as I grew up with most of them here on Whidbey Island. I hope some way is devised to get their boat yard back running, as they have always been a positive contributor to our community, both in providing jobs, and supporting local activities.
Losing Nichols Brothers Boat Works is a huge loss to our community.
Let's hope this isn't permanent...........................