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.
ABOUT THE AUTHOR
Known nationwide as a leading Lemon Law attorney, Ronald L. Burdge has represented literally thousands of consumers in "lemon" lawsuits and actively co-counsels and coaches other Consumer Law attorneys. From 2005 through 2018, attorney Ronald L. Burdge has been named as the only Lemon Law Ohio Super Lawyer by Law and Politics magazine and Thomson Reuters Corp., Professional Division. Burdge restricts his practice to Lemon Law and Consumer Law cases. The Ohio Super Lawyer results are published annually in the January issue of Cincinnati Magazine. Ronald L. Burdge was named Consumer Law Trial Lawyer of the Year 2004 by the National Association of Consumer Advocates, the nation's largest organization of consumer law private and government attorneys. "Your impact on the auto industry has been magnified many times over because of the trail you blazed for others," stated NACA's Executive Director, Will Ogburn. Burdge has represented thousands of consumers in Ohio, Kentucky and elsewhere since 1978 and is a frequent lecturer to national, state and local Bar Associations and Judicial organizations. Burdge is admitted to Ohio's state and federal courts, Kentucky's state courts, and Indiana's federal courts. Other court admissions are on a "pro hac" temporary, case by cases basis.