Rough Water At The "New Catalina"
Posted: Sat Oct 25, 2025 4:00 am
In May of 2025, Cruising World magazine reported the sale of Catalina Yachts to Michael Reardon, founder and CEO of Daedalus Yachts. I had never heard of Daedalus Yachts before and just assumed it was an established shipbuilder. No one mentioned that Daedalus apparently hadn’t sold a boat yet. Now, it seems unlikely that it will, unless you count the one that’s half built in the for-sale photos for the factory building. The 38,400-square-foot building is listed for $3.5 million.
To make matters worse it appears that Michael Reardon, the new Catalina owner has failed to make rent payments for the Catalina facility he was leasing. On top of that a Catalina employee reports that “The new owner, Michael Reardon, had not paid our wages for the past two months and our insurance was cancelled. We had meeting today and hopefully we will be back in two weeks when the owner pays and the vendors”.
Links to articles. :
https://loosecannon.substack.com/p/hmmm ... irect=true
https://loosecannon.substack.com/p/cata ... irect=true
I'd bet that Frank Butler is rolling over in his grave.
To make matters worse it appears that Michael Reardon, the new Catalina owner has failed to make rent payments for the Catalina facility he was leasing. On top of that a Catalina employee reports that “The new owner, Michael Reardon, had not paid our wages for the past two months and our insurance was cancelled. We had meeting today and hopefully we will be back in two weeks when the owner pays and the vendors”.
Links to articles. :
https://loosecannon.substack.com/p/hmmm ... irect=true
https://loosecannon.substack.com/p/cata ... irect=true
I'd bet that Frank Butler is rolling over in his grave.