Kadey-Krogen this week ended its 49-year run as one of America’s finest producers of full-displacement trawler yachts after filing for Chapter 7 liquidation in Deleware’s federal bankrupcy court. Nearly 700 Krogens have been built, but apparently only two were “in the pipeline” when the company called it quits Monday.
Kadey-Krogen’s fall has taken the American Tug brand down with it. Kadey-Krogen acquired the LaConner, Washington-based builder of semi-displacement trawlers in May 2023.
Unlike Chapter 11 bankrupcy, in which a company may continue to operate, a business that has filed under Chapter 7 ceases to exist and its assets are sold off to…