Merrill-Stevens has shut down its yacht-sales and yacht-charter divisions, deciding instead to emphasize its megayacht refit and repair business.
CharterWave broke the news earlier this week, thanks to an anonymous inside tip, and the official word came within a day or two after that. Merrill-Stevens, which opened its doors in Florida in 1885 and has had a facility along the Miami River since 1923, only launched the sales division three years ago, in Fort Lauderdale. Despite that division achieving some success, however, the firm says brokers from other companies as well as yacht-management houses hesitated sending their clients to the service yard, fearing the sales arm might end up gaining influence. “Focusing on our core business-yacht repair/refit and maintenance–will assure referring yacht brokers and yacht management firms that we are serving their needs–not competing with them,” Fred Kirtland, CEO of Merrill-Stevens, said in a statement. As for the charter division, some positions were already eliminated last March.
Four more jobs in total are being eliminated as a result of the move, and some administrative staff will instead work at the shipyard, which can accommodate superyachts dockside to 250 feet and haul ones to 160 feet. The sales and charter brokers are independent contractors, according to Merrill-Stevens, though the company says it will assist them and their clients in making smooth transitions elsewhere.
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