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Old 03-05-2009, 06:55 PM   #1
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And Another One Bites The Dust

My Way News - RV maker Monaco Coach files for Chapter 11
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Old 03-05-2009, 07:01 PM   #2
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Thier web site says prices START at $629K.

Imagine that, no buyers.
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Old 03-05-2009, 07:03 PM   #3
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This is pretty significant. Holiday Rambler which was at one point a very well made RV was owned by the company. Don't know if the HRs were as good as they were in the past, but HR is a very well known brand.
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Old 03-05-2009, 07:09 PM   #4
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Holiday Rambler and Safari are listed as two of their brands.
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Old 03-05-2009, 07:25 PM   #5
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That makes me feel sad.

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Old 03-05-2009, 07:30 PM   #6
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The company's products, which include the Monaco, Holiday Rambler, Safari, Beaver, McKenzie, and R-Vision brand names along with several motorhome-only resorts,
From the article...that pretty well covers the spread of the RV market. I am sure there will be many more as things continue. RV's ARE NOT a necessity for the most part, they are a luxury item and people aren't spending much on luxury stuff right now.

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Old 03-05-2009, 08:11 PM   #7
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Chapter 11 is debt reorganization. Delta Airlines went through it for the last couple of years and just emerged and merged with Northwest Airlines becoming the name of the newly formed merger corporation that is now the world's largest airline so it must have worked. GM is about to enter into Chapter 11 to reorganize their debt load. It doesn't mean they are gone, but it doesn't bode well for a company to go into any form of bankruptcy.
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Old 03-05-2009, 08:31 PM   #8
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Rumor has it (if it hasn't happened already) that Fleetwood may be next. While not a big fan of Fleetwood products, I hope that the rumor is not true and that they stay in business. When these companies go, they take a whole lot of brands with them. I hope this stops soon, my heart goes out to the workers losing their jobs. Once this recession is over there will likely be a new generation of RV manufactures that will rise from the ashes of the troubled firms.
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Old 03-05-2009, 08:48 PM   #9
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Chapter 11 is debt reorganization. Delta Airlines went through it for the last couple of years and just emerged and merged with Northwest Airlines becoming the name of the newly formed merger corporation that is now the world's largest airline so it must have worked. GM is about to enter into Chapter 11 to reorganize their debt load. It doesn't mean they are gone, but it doesn't bode well for a company to go into any form of bankruptcy.

Yes, but reading the press release, the are talking about divesting all the company assets......they owe what they have in assets.


COBURG, Ore. (AP) - Recreational vehicle maker Monaco Coach Corp., which has seen sales plunge amid the recession, said Thursday it has filed for Chapter 11 bankruptcy protection.
The company said it plans to continue operating as it prepares to sell off parts or all of its business.
The RV maker, which sent termination notices to nearly all its remaining employees earlier this week after an unsuccessful 20-month turnaround effort, said it owes between $100 million and $500 million and has assets in the same range.

I wonder how many Thor brands might go away. I can't see 'em keeping them all.
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Old 03-05-2009, 08:53 PM   #10
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It's a shame. Of all the Class A's that my wife and I have looked at when going to RV shows, Monaco's are the only ones that my wife said looked like they were well enough made for her to consider. I still want an Airstream A39.
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Old 03-05-2009, 10:11 PM   #11
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Originally Posted by wahoonc View Post
From the article...that pretty well covers the spread of the RV market. I am sure there will be many more as things continue. RV's ARE NOT a necessity for the most part, they are a luxury item and people aren't spending much on luxury stuff right now.

Aaron
A RV very well may be the only thing some folks will have left to live in.So it may not be a luxury to them. (Look at what is at the free parking in places like slab city and BLM land in CA, some of the things folk live in on BLM and Forest Service land in AZ) Better than living under a bridge.

I hope Thor and Airstream can hold out and make it.
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Old 03-06-2009, 08:02 AM   #12
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Thor will overall make it. They have cash in hand and do have a bus business which is doing well. I don't believe Thor would let the flagship brand Airstream go away, my thought is that brands may get consolidated at Thor. I mean if you really think about it, if you have 4 or 5 brands of box style trailers and/or motorhomes, and a significant portion of the competition is gone over the RV market tanking due to the economy, do you really need 4-5 box trailer lines, particularly if even in the best of circumstances, the RV market comes back ever so slowly after folks have woken up to the fact that disposable income may not be as disposable as once believed.......

Airstream is unique, but what will be an issue for them long term are their quality and corrosion issues. Until they get these even marginally under control, I can't see the now sober folks here in the country after this economic collapse shelling out 2 to 3x what an SOB would cost for this level of build from them, but I do believe they will be one of the few brands left. I think Thor will shutter plants and brands before they let the American Icon vanish. There is just too much brand recognition. Fly a dozen RVs down the road and one of them an Airstream and I bet you two things. The Airstream will be remembered and most will be able to say hey there are one of those silver bullets or Airstreams. How many times on the road do you say, hey look there is a Prowler or a Terry?

But mind you, even with that recognition, look at the domestic auto industry. Chevy is about a American as apple pie, yet it may not make it through the quasi depression we're in unless the Government(s) bails them out. There may be no bailout for the RV industry or nowhere near as much cause the job loss between the auto industry and the RV industry is just so incomparable.

At the very least, I think we'll see a leaner and meaner Airstream. Hopefully this time out the industry has will give Airstream time to rethink their processes and really not simply make upgrades but improvements as has been the company motto since the old Wally days. I personally feel Airstream has lost it's focus, but perhaps it will come back after something like what is going on around us today.
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Old 03-06-2009, 09:27 AM   #13
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Monaco & Beaver are our favorite Class A RVs

Sad. Over the years we have considered a Class A. The only two that we like are Monaco and Beaver. Well-built, beautiful, classy.
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Old 03-06-2009, 10:05 AM   #14
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Yes, but reading the press release, the are talking about divesting all the company assets......they owe what they have in assets.


COBURG, Ore. (AP) - Recreational vehicle maker Monaco Coach Corp., which has seen sales plunge amid the recession, said Thursday it has filed for Chapter 11 bankruptcy protection.
The company said it plans to continue operating as it prepares to sell off parts or all of its business.
The RV maker, which sent termination notices to nearly all its remaining employees earlier this week after an unsuccessful 20-month turnaround effort, said it owes between $100 million and $500 million and has assets in the same range.

I wonder how many Thor brands might go away. I can't see 'em keeping them all.
They may claim this is Chapter 11 by definitions, BUT it sounds more like a whole new and different Chapter..called going, going, FOREVER GONE.. ..Sad.
I wonder about places like:
http://www.lazydays.com/
Which (used 2) sells a tonz of new products of theirs..
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