RV maker Fleetwood files for Bankruptcy

[RamboLiberal]

Source: LA Times

Fleetwood Enterprises Inc., the Riverside recreational vehicle maker, filed for Chapter 11 bankruptcy protection today and said it was in talks to sell itself as it battles to survive a prolonged sales slump.

Fleetwood said it would continue to operate while in bankruptcy proceedings and as it holds talks with potential buyers.

"The company is in discussions with buyers for all or part of its business," a spokeswoman for the company said.

Fleetwood, which employs 3,000 people at 15 plants in 10 states, also said it would close its travel trailer operation, shutting down three factories and two service centers and eliminating 675 jobs. The company said it was also laying off an additional 65 workers.

"Although we made substantial progress in restructuring this division and improved the product offering, current market conditions proved too severe to continue the turnaround," Chief Executive Elden L. Smith said in a statement.


Read more: http://www.latimes.com/business/la-fi-fleetwood11-2009mar11,0,2726067.story

[Cleita]

1. Maybe it was the shoddy workmanship that helped them along.

Most people I knew that owned Fleetwoods, didn't go back to buy a new one when they were ready to replace the old RV.

[woodsprite]

5. We switched to Jayco - an now even their workmanship has gone downhill.

BUT, they have stood by their work and fixed stuff.

[endarkenment]

2. I thought they were going back out on tour.

Oh, not that Fleetwood. Never mind.

[smiley]

4. Mac Trucks billed for....

back up tour.

[Historic NY]

3. Monaco filed & laid off its entire work force too.

[woodsprite]

6. As far as I'm aware, Monaco only has high-end

and really-really-high end models (like corian countertops, hard wood floors, porcelain potties, brass fixtures, leather furniture options), so they don't really appeal to the same group of people that Fleetwood would cater to.

I can see some of these high end companies losing business because who's gonna have the money to put 500K+ into a motor home. My in-laws just bought a 3BR 3-car garage home in Florida for 265K AND they're keeping their Holiday Rambler 5th wheel/dually truck combo to come north during the summer to visit grandkids (or evac in hurricanes). Their rig plus the house cost them much less than a lot of motor homes on the market today.

Wasn't Fleetwood one of the major suppliers of the trailers for FEMA?