This is stunning news and a real jolt to the light aircraft manufacturing sector. Arguably the most successful ultralight company since the dawn of ultralights, imagine being done in(as per article) by your own sales success and ability to be a scalable business. Their SLSA model was at an excellent price point comparatively within the LSA sector but way too high when compared to other similar ultralights.
IIRC, Quicksilver had a similar restructuring in the mid-90s.
Ron Wanttaja
Ron, they had a restructuring last year as well but this time it's characterized by the principals themselves as an assets sell-off through an auction on Nov.3 to pay off debt. They hope to have willing 3rd party suppliers provide continuing parts and support to thousands and thousands of owners. According to what I've read the factory has closed.
Even in the very challenging aircraft manufacturing and sales biz, you don't expect to hear an icon of that biz fold up the tent and fly out over the horizon.
The mid-90s case was apparently pretty big...they had a huge loss from a flood, accumulated nearly $2M in debt, and creditors seized the company. Here's a FLYING magazine story on it:Originally Posted by Floatsflyer
http://tinyurl.com/q9anvrb
Found a lawsuit related to the case, too:
http://openjurist.org/250/f3d/716/la...-cadle-company
Sure, you'd never expect that of giants of the industry like Stoddard Hamilton, Avid, the Rutan Aircraft Factory.... :-)
In any case, Quicksilver popped back after the stuff in the'90s; might do it again.
Ron Wanttaja
Wasn't the really original company Eipper Formance? (Get it?) I was in ultralights in the early mid-80s and I thought that was the original company. I was flying Advanced Aviation Cobras/King Cobras at the time but the folks that taught me had learned in a Quicksilver. I wouldn't be surprised to see some of the same folks with some new money start back up in the next 9-36 months.
Jim
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If the cost of these units are the same, they might as well stay closed. One could build one of these units for a fraction of the cost of what they want for one. I know a man who does this and no his name does not start with " M ". He has built quite a few of these himself for a fraction of what these cost. He even makes his own sails well he did anyway. Today he is done with aviation. When par 103 died he moved on. Turned his airpark into a race park for dirt flat track racing. He has been doing this for a few years now and I don't blame him one bit. I say good for him.
Tony
Gene "Bever" Borne was involved as a dealer at Quicksilver's inception. Prior to that he was in the early hang glider development. He's bailed QS out a number of times when it hit bumps over the years.
He bought all the equipment and moved it to his operation in Reserve LA. He and his wife Kim [and his son that is coming up in the business] will ensure there are Quicks and Quick parts for as long as anyone flies them.
I don't think the Quicksilver community has ever been on more solid ground in the last 10 years now that Bever is running the business end of the business. No one understands what's needed to keep the QS brand alive better than Bever.
That's not to imply there will be a big resurgence in the sale of ultralights. There won't be. Not since the needed training element of ultralights has been strangled by the loss of the instruction exemption after Sport Pilot was implemented.
But a Quicksilver owner won't have to worry about being able to keep his aircraft flying with Bever producing kits and parts.
-Buzz
At one time Bever " Gene " Borne spoke on the Powered Sport Flying radio Show with Roy Beisswenger. I would always enjoy listening to this program when people like Gene spoke on it. I miss that radio show, A LOT. Great to hear he is still involved with this company.
Thanks for the up-date Buzz.
Tony
Here is a document Bever posted on his company's website prior to personally buying the Quicksilver inventory, tooling, etc.
It reflects his commitment to the product, provides a little history and I think gives anyone a good feeling that the future of the Quicksilver product looks better today than it has for a long time.
What it also reflects is the friendly, open attitude that has helped Bever weather all the enormous ups and downs that sent virtually ever person ever involved with Quicksilver [at the factory or dealers] to the sidelines permanently.
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