Lunde Båt AS, the Norwegian importer of Bavaria sailing yachts, has closed for business.

According to a company statement, Lunde decided to shut down after several years of weak financial results. The company used to be one of Bavaria’s largest importers of sailboats, with strong demand coming from Norwegian customers – particularly in 2006 and 2007, when the company experienced some “golden years”.

But extremely low volumes of new sailboats, combined with long warranty and reclamation times, has put pressure on the company.

“We’ve cleared everything and paid holiday salaries, so there’s no drama in this,” Lunde Båt owner May Len Stensaker told Seilas.no.

“I should have done this six years ago. I’ve put in money to keep the company running, but margins are too small for each sale,” she told the magazine.

According to Seilas.no, Lunde Båt AS lost some NOK 8m during the five-year period from 2010 to 2014.