Ken’s Boat Center Goes Out of Business

Ken’s Boat Center, one of the larger boat dealers on the West Coast, has closed.

The company, which had at least five offices in Orange and Riverside counties, was forced out of business late last week after General Motors Acceptance Corp. foreclosed on the firm and began towing away its boats.

By Monday morning, Ken’s Newport Beach lot was empty and its doors were locked.

“He has gone out of business,” said Jack Cronkhite, general counsel for Sea Ray Boats Inc., which sold its boats in Orange County exclusively through Ken’s. “His present unsold inventory has been given back to GMAC, who financed it.”

Ken Kuklish, owner of Ken’s Boat Center, did not return telephone calls placed to his business offices. His attorney declined to comment on the closing.

Several sources, including a Sea Ray representative, said Ken’s went out of business because Kuklish failed to repay GMAC more than $1 million in loans on boats that were sold and had served as collateral.

GMAC officials confirmed that it had seized boats but declined to comment further.

In an interview last year, Kuklish said his company had sales of $16 million. Ken’s had expanded in recent years and had offices in Newport Beach, Anaheim, Riverside and Mira Loma.

Sea Ray, considered a top-of-the-line boat maker, must now repurchase its boats from GMAC and try to sell them to other dealers, Cronkhite said. The company makes mostly power boats, including those used for speed racing and water skiing.