Image Credit: FACEBOOK/Campion Boats
August 24, 2022 - 7:30 AM
One of Kelowna's oldest and most famous manufacturing companies, Campion Boats, has closed its doors after more than 50 years in business.
Multiple sources say the plant has shut down and the equipment is up for sale.
“They already shut down,” one dealer in B.C. said. “All the staff have been gone for 10 days now.”
The man said it was not his place to comment so did not give his name.
“Campion Marine has confirmed it will wind down all boat production at its central British Columbia manufacturing facility by August 31, ending months of speculation around the future of Canada’s largest fibreglass boat builder,” reads an article in IBI International Boating Industry, an international recreational boating publication.
The phone at the Campion outlet rang busy every time iNFOnews.ca called. No one at KV Capital, the Edmonton based hedge fund that bought the company in 2018, returned calls.
Dan Albas, MP for Central Okanagan-Similkameen-Nicola, blamed the closure on a new federal luxury tax that comes into effect on Sept. 1.
Not only is there already a B.C. luxury tax and GST on luxury products but now there will be an additional hit from the federal government, making it uneconomical to manufacture in Canada, he said.
“Competitiveness is the key thing here,” Albas said.
The IBI article says Campion Boats opened in 1947. The Campion Boat website says it started “crafting” boats in 1972 while its LinkedIn page says that started in 1974.
“In a letter to dealers, the company says most of its staff have been able to secure new employment at other manufacturing concerns in the Kelowna area, including its Northern Lite Truck Campers sister company,” the IBI article says. “Moving forward, the ownership group aims to relocate the business and resume building boats under the Campion nameplate through a contract manufacturing arrangement with an as yet undetermined partner.”
The 4.68-acre Campion property, off Sexsmith Road, was listed in the spring for sale for almost $15 million by HM Commercial Group.
The latest posting for the property on the HM Commercial Group website offers it for lease for $11 per square foot or for sale for $14,995,000. It’s assessed by B.C. Assessments at $7.14 million, including $2.7 million for the buildings.
The real estate listing says it has up to 103,000 square feet in the buildings, is zoned to allow outside storage and will be vacant for possession as of Sept. 1.
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