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 Monaco RV is Closing the Factory

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Diseasel



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Join date : 2013-02-28
Location : Scottsdale, AZ

PostSubject: Monaco RV is Closing the Factory   February 11th 2014, 10:46 pm

RV sales have been doing fairly well. Not for Monaco RV in Elkhart, IN.

Quote :
A big hit to the Elkhart economy!

Some 160 workers are out of a job after employees at Monaco RV got the shocking news Monday the plant is closing its doors.

The Monaco RV plant, owned by Allied Specialty Vehicles, has closed its doors for good.

The announcement came as quite a surprise to the 85 full-time employees there.


http://www.wsbt.com/news/local/monaco-facility-in-elkhart-closing-its-doors/24388984
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Diesel Dan

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Age : 46
Location : Columbia TN

PostSubject: Re: Monaco RV is Closing the Factory   February 12th 2014, 1:24 am

Quote :
"We have travel trailers and fifth wheels that are in every stage of production in the building, and I can't see somebody scrapping the whole thing."

I can, pennies on the dollar for venture capitalists looking to make a quick buck on gutting a brick and mortar business.
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Diseasel



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PostSubject: Re: Monaco RV is Closing the Factory   February 12th 2014, 9:50 am

Yep. I've been fond of Monaco as my folks had a type C when I was a kid. But it's been a roller coaster ride of late.

Quote :
In 2005, the company had sales of approximately US$1.2 billion, and employed nearly 5,400 people.

On March 5, 2009 the company filed for Chapter 11 bankruptcy.

On April 24, 2009 in U.S. Bankruptcy Court in Delaware, an attorney for Monaco said the company had signed an asset purchase agreement with Workhorse International Holding Co., a Navistar International subsidiary.

In 2013, Monaco RV LLC was sold by Navistar International Corp. to Allied Specialty Vehicles as Navistar restructured.

http://en.wikipedia.org/wiki/Monaco_Coach_Corporation
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TheQuig

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PostSubject: Re: Monaco RV is Closing the Factory   February 12th 2014, 1:30 pm

Wow, I've owned one of their class C and a fifth wheel from them. They were known for their quality.

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