Derecktor Shipyards Files for Chapter 11
January 23, 2012
Derecktor Shipyards Conn. LLC, based in Bridgeport, Connecticut, has announced that it is seeking protection under the Chapter 11 bankruptcy and reorganization laws.
A depressed economy, the cash drain of investment made in building out the Bridgeport facility, and a recent lack of new construction opportunities, have put a tremendous strain on the company’s finances, according a company press release issued January 21.
The release says that the shipyard is seeking “strategic alternatives”, including an investor or buyer of the yard.