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.