Fountain Powerboat Industries Inc., a manufacturer of sleek, fast offshore sport and fishing boats that buys all of its marine engines from Mercury Marine of Fond du Lac, has filed for Chapter 11 bankruptcy reorganization.
The bankruptcy petition, filed Monday in the U.S. District Court for the Eastern District of North Carolina, lists $18.4 million in assets against $50.2 million in liabilities. Major debts are owed …Â Details