2009 03 Article: Financial crisis sinks French yacht maker Couach
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Financial crisis sinks French yacht maker Couach
Reuters
2009 03 30 7:16 GMT+215
PARIS, March 30 (Reuters) - French luxury yacht maker Couach applied for court protection from creditors as it failed to secure a deal with banks over the restructuring of its debt, the group said in a statement on Monday.
The group had been in negotiations with banks about its 23 million euros ($30.42 million) debt for over two months.
But "the current financial and banking crisis annihilated all our efforts," it said in the statement.