The company issued a statement on their web site earlier today, 13 August

‘We are shocked and saddened to report that our plant at Petite Riviere, Nova Scotia, burned to the ground in the early morning hours today.
‘Yard president and founder John Steele said that he, the two other managing partners, and all other employees are still in the early stages of reacting to the news.Thankfully no one was hurt in the blaze.
‘However, we are devastated to report that 62’ schooner Maggie B was lost. Our sincere condolences to her American owner, Mr. Frank Blair, who has been contacted. His yacht was in the yard for a cosmetic refit after circling the globe over the last two years.
‘General Manager Al Hutchinson said, the loss of the yard was a blow to the community. “It’s a tragic loss of a boat and many non-replaceable artifacts.” He said the company will pick up the pieces and move on.

‘A small sailboat in the yard for minor repairs had left the yard earlier this month, and a months-long refit of a 38’ commercial boat into a pleasure boats for Irish customers had been completed last month. Lumber was about to be ordered for a new project, a schooner for a Nova Scotia customer. John Steele said he was hopeful the company would find a way to fill the order.
‘Discussions are well underway for a move to the Smith and Rhuland property on the Lunenburg waterfront.
‘It will likely be some time before a cause of the fire is established, according to a Covey Island employee who was one of the firefighters who responded to the fire from seven neighbouring fire departments. The Nova Scotia Fire Marshal was on the scene early this afternoon.
‘The work force at the yard is fifteen to thirty employees depending depending on the work at hand. Most employees who have been with the yard at least a year have shares in the company.
‘The boatbuilding plant was about 8,000 square feet and included two boat building bays.The building was insured.’