Monday, December 03, 2007

National RV closes headquarters, files bankruptcy

National R.V. Holdings, Inc. said Friday that the company and National R.V., Inc., its wholly-owned subsidiary, have filed voluntary petitions under the provisions of Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court, Central District of California, Riverside Division.

According to the company, it has taken the action after determining that seeking bankruptcy protection is in the best interest of the Company, its creditors, stockholders and other interested parties.

Dave Humphreys, the Company's Acting Chief Executive Officer, stated, "We are saddened to let go our excellent employees, especially so close to the Holidays, and even more so because National's motorhomes have never been better than they are today. After evaluating our options, however, we ultimately determined that seeking protection in bankruptcy was in the best interests of creditors and shareholders."

National R.V. Holdings, Inc., through its wholly owned subsidiary, National RV, Inc., is a producer motorhomes. From its Perris, California facility, National RV designs, manufactures and markets Class A gas and diesel motorhomes under model names Surf Side, Sea Breeze, Dolphin, Tropi-Cal, Pacifica and Tradewinds. NRV began manufacturing RVs in 1964.

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