Friday, March 06, 2009

Two RV manufacturers enter Chapter 11

The Register-Guard - Eugene,OR,USA
Monaco Coach Corp. filed for Chapter 11 bankruptcy protection on Thursday but said it intends to continue operating so it can sell off all or part of the business.

The filing comes three days after Monaco terminated 2,000 of its 2,145 employees and caps a tumultuous year in which the RV maker’s fortunes have steadily faded in the face of the global economic crisis.

And in a cruel coincidence, the Monaco filing came on the same day that a federal judge ordered Country Coach, a Junction City RV maker, into Chapter 11 bankruptcy proceedings.

Chapter 11 bankruptcy is intended to give financially ailing companies breathing room from creditors and time to reorganize.

Full Story...
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