I am sorry to report - two fine motor home manufactures announced they have filed for bankruptcy protection under Chapter 11.
COUNTRY COACH was ordered by a judge to file for Chapter 11 bankruptcy after over a year's discussions with creditor Wells Fargo Bank.
MONACO CORPORATION, America's largest manufacturer of motor homes and trailers including Holiday Rambler, Safari, Beaver, Aluma-Lite and others terminated most of their remaining employees on March 2nd, and filed for Chapter 11 on March 4th. Their reorganization plan currently calls for spinning off most of their assets. It will continue to trade Over the Counter under the symbol MCOA.
Both of these companies are based in the Eugene, OR area. Monaco also had extensive operations in the Elkart, IN area.
While Chapter 11 does not mean they are "history" (just look at USAir and UNITED Airlines), it does indicate they may not be around in the future.
Consolidation of the industry will probaby continue to follow - like Coachmen being bought by Forest River (owned by Birkshire Hataway) last fall.
With RV sales falling by more than 60%, we hope those left will be able to perpetuate our fine lifestyle.
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