VONORE, Tenn. – MasterCraft Boat Company, which last week announced that it had avoided bankruptcy court by restructuring its balance sheet through an exchange of its senior secured debt and through new agreements with its suppliers, has begun re-hiring more than 200 employees laid off earlier this year, according to a report on WBIR.com of Knoxville, Tenn.
MasterCraft laid off hundreds of employees and halted production for a period of time, but the company told the Web site that demand for boats has begun to increase.
“This time last year, we had a record year in all 41 years of existence,” MasterCraft President and CEO John Dorton told the Web site. “Shortly after that, though, we began to see some dramatic retail slowing. By the time January came, we had to stop and immediately go into cash crisis conservation mode.”
By week’s end, however, MasterCraft says that 219 former employees will be back on the job, and Dorton says for now, he’s happy to have his employees back at work, according to the report.
“We’re bringing back our best and best-trained to make sure we get the best boats we can out on the water,” Dorton told the Web site. “The first step was to get started up again, and we’ve done that. We’ll continue to push and do all we can do to get boats into people’s garages and boathouses throughout the world, and that allows us to keep these good people in Blount, Monroe, and Knox County employed.”