Tuesday, December 29, 2009

Thor loans $10M to RV dealer FreedomRoads

Thor made the loan to be used for working capital by FreedomRoads LLC, whose 47 dealerships across the country accounted for 15 percent of Thor’s RV sales in fiscal year 2009.

Principal on the 12 percent loan is due at the end of the next four years with the majority — $7.4 million — due in 2014. Interest payments are scheduled to be made quarterly.

Officials from Airstream Inc., a Thor subsidiary, recently told the Dayton Business Journal the company has doubled output since August and has recalled more than 50 workers. Airstream also plans to hire another 25 in the first quarter, bringing its employee count to 240 after hitting a low of 160 this year.
Full Story...
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