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Gunboat filed for Chapter 11 bankruptcy in November 2015, listing $15.6 million in debt against $1.1 million in assets.6:27 The collapse followed a series of financial and operational crises, including high manufacturing costs that often exceeded the sale price of new catamarans.2:57 Founder Peter Johnstone struggled to balance the development of high-performance designs like the Gunboat 55 and the hydrofoiling G4 with the costs of establishing a production facility in Wancheese, North Carolina.0:24 The company also faced expensive litigation with Hudson Yacht and Marine Industries over warranty and repair obligations for its Chinese-built 60 series.3:31 Public setbacks compounded these issues, notably the January 2015 helicopter rescue of the crew of the Gunboat 55 *Rainmaker* after a dismasting, and the widely publicized capsize of a G4 at the St. Bart's Regatta.4:17 Grand Large Yachting acquired the brand in 2016, moving production to La Grande Motte, France, and eventually launching the VPLP-designed Gunboat 68.7:26

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