Law and Rights
An unnamed suitor has offered $50 million for substantially all the assets of Monaco Coach Corp., according to a story on the AP newswire. That could be good news for Monaco owners, many of whom have been left stranded with no warranty protection since the company filed a Chapter 11 bankruptcy March 5, 2009.
Monaco stil has to get approval for the deal from its primary financiers, Bank of America and Ableco Finance, but if it happens then the Oregon based Rv maker could be back in business in the not too distant future.
Rv sales have plummetted in the last year as financing dried up and consumers found themselves in a down economy and lay-offs mounting up. The uncertainty of it all had a hard impact on the motorhome industry. After all, it's hard to justify a home on wheels when so many homes around you are being foreclosed on.
In January alone, Rv sales plunged more than 70 percent, as Fleetwood preceded Monaco into bankruptcy and both were on the heels of other Rv makers' trek to the bankruptcy court.
If you've got a Monaco coach, cross your fingers. Maybe things are beginning to look up.
Burdge Law Office
www.RvLemonLaw.com
Because life's too short to put up with a bad Rv.
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- Monaco Coach Files Bankruptcy
On March 5, 2009 Monaco Coach Company filed a chapter 11 bankruptcy in its home state of Delaware. The entities that appear to be covered by the bankruptcy look like Signature Motorcoach Resorts, Inc., MCC Acquisition Corp.: Signature Resorts, Naples...
- Rv Industry Collapsing ?
Last year several Rv builders went out of business and this year things aren't looking any better. So far, Country Coach, Monaco Coach and Fleetwood have all filed bankruptcy (of one kind or another). Who's next? That's become the name of...
- Monaco Worsens ?
The complaints and reports are starting to come in that Monaco dealers are refusing to do warranty work because of either "slow pay" or "no pay" on warranty claims. Rumor has it that a Southern California dealer turned away a 2009 Dynasty owner's...
- Monaco Threatened With Nyse Delisting
Already suffering economically and having just consulted industry experts on how to turn its business around, now Monaco has received notice from the New York Stock Exchange that they will be delisted if things don't improve. The same thing happened...
- More Rv Companies Bite The Dust
2008 was a bad year for the Rv industry. Some companies merged, sold off assets, closed or filed for bankruptcy protection. If you're thinking of buying a motorhome, you need to be careful of the viability of the builder to stand behind their product....
Law and Rights
$50 Million Offered for Monaco Coach Corp
An unnamed suitor has offered $50 million for substantially all the assets of Monaco Coach Corp., according to a story on the AP newswire. That could be good news for Monaco owners, many of whom have been left stranded with no warranty protection since the company filed a Chapter 11 bankruptcy March 5, 2009.
Monaco stil has to get approval for the deal from its primary financiers, Bank of America and Ableco Finance, but if it happens then the Oregon based Rv maker could be back in business in the not too distant future.
Rv sales have plummetted in the last year as financing dried up and consumers found themselves in a down economy and lay-offs mounting up. The uncertainty of it all had a hard impact on the motorhome industry. After all, it's hard to justify a home on wheels when so many homes around you are being foreclosed on.
In January alone, Rv sales plunged more than 70 percent, as Fleetwood preceded Monaco into bankruptcy and both were on the heels of other Rv makers' trek to the bankruptcy court.
If you've got a Monaco coach, cross your fingers. Maybe things are beginning to look up.
Burdge Law Office
www.RvLemonLaw.com
Because life's too short to put up with a bad Rv.
Subscribe in a reader- Monaco Coach Files Bankruptcy
On March 5, 2009 Monaco Coach Company filed a chapter 11 bankruptcy in its home state of Delaware. The entities that appear to be covered by the bankruptcy look like Signature Motorcoach Resorts, Inc., MCC Acquisition Corp.: Signature Resorts, Naples...
- Rv Industry Collapsing ?
Last year several Rv builders went out of business and this year things aren't looking any better. So far, Country Coach, Monaco Coach and Fleetwood have all filed bankruptcy (of one kind or another). Who's next? That's become the name of...
- Monaco Worsens ?
The complaints and reports are starting to come in that Monaco dealers are refusing to do warranty work because of either "slow pay" or "no pay" on warranty claims. Rumor has it that a Southern California dealer turned away a 2009 Dynasty owner's...
- Monaco Threatened With Nyse Delisting
Already suffering economically and having just consulted industry experts on how to turn its business around, now Monaco has received notice from the New York Stock Exchange that they will be delisted if things don't improve. The same thing happened...
- More Rv Companies Bite The Dust
2008 was a bad year for the Rv industry. Some companies merged, sold off assets, closed or filed for bankruptcy protection. If you're thinking of buying a motorhome, you need to be careful of the viability of the builder to stand behind their product....