Monaco Coach

[Tigger1966]

I was told by my Mgr. and our parts guy that Monaco and all the brands under it are gone. He has been trying to get parts for a unit and can't get a hold of anyone or even get a call back. They also said that Fleetwood has closed thier entire TT. division. we can't get parts for them either.
They are not sure what we are going to do for the units we have sold that are still under warranty

 

[RNmomnFL]

This is scary news! We have a Fleetwood TT.

 

[Tigger1966]

Not sure how Fleetwood is going to handle thier warranty but at least they are still in buisness. Just hope you don't have any structural problems most everything else was made by someone else (most of it in china)

 

[des1954]

No, Monaco filed Chapter 11 on March 6th. You're still safe.

http://www.msnbc.msn.com/id/29537686/

Fleetwood is still safe - but they cater to a broad range of income levels, while Monaco caters only to the wealthy.

I also heard that Country Coach is in trouble - but they haven't filed for bankruptcy - yet.

 

[tim5055]

Fleetwood is still safe - but they cater to a broad range of income levels, while Monaco caters only to the wealthy.

I also heard that Country Coach is in trouble - but they haven't filed for bankruptcy - yet.

Sorry, you gave incorrect information.

March 10, 2008 RVNews.com

Fleetwood Enterprises, Inc. today filed voluntary Chapter 11 petitions for itself and certain operating subsidiaries in the U.S. Bankruptcy Court for the Central District of California in Riverside. The filings do not include any of the company's foreign or non-operating entities.

Fleetwood's motor home and manufactured housing businesses will continue to operate while the company seeks buyers for these business units

The filing also facilitates the closing of Fleetwood's travel trailer division, which the company has commenced. This division accounted for losses of $65.3 million in 2007 and $16.8 million in 2008.


March 06, 2009 RVIndustrynews.com
JUNCTION CITY, Ore. -- A federal judge ordered Country Coach into Chapter 11 bankruptcy protection on Thursday, one month after the Junction City RV maker’s majority owner filed a petition to put the company into involuntary bankruptcy.

Under court rules, Country Coach had until Wednesday to contest the involuntary filing, but it did not respond. In fact, nothing in the record indicates it retained a bankruptcy attorney.

So U.S. Bankruptcy Judge Albert Rad*cliffe granted the request by Bryant Riley to put the company into bankruptcy. A Chapter 11 filing puts the company under the protection of the bankruptcy court while attempting to reorganize its finances.

The judge gave Country Coach three days to provide a list of its 20 largest secured creditors.

 

[Shan-man]

And this from Bizjournals:

Struggling recreational vehicle manufacturer Monaco Coach Corp. on Thursday said it has voluntarily filed for Chapter 11 bankruptcy protection.

The announcement came a day after a federal judge ordered Country Coach, a Junction City RV maker, into Chapter 11 bankruptcy proceedings.

Coburg-based Monaco, which earlier this week laid off the majority of its employees and was delisted from the New York Stock Exchange, said it will continue operating as a debtor-in-possession as it awaits the sale of “parts or all of the business.” Imperial Capital LLC, the company’s lead investment bank, is helping Monaco work toward a transaction.

The company is asking the court to grant the authority to make wage and salary payments, continue various employee benefits and maintain other services. It is negotiating with lendors for two debtor-in-possession financing plans to supplement working capital.

 

[DisneyBishops]

I was told by my Mgr. and our parts guy that Monaco and all the brands under it are gone. He has been trying to get parts for a unit and can't get a hold of anyone or even get a call back. They also said that Fleetwood has closed thier entire TT. division. we can't get parts for them either.
They are not sure what we are going to do for the units we have sold that are still under warranty

Wow man I don;t know what you do at the RV dealership but i hope you job is secure. All the RV compaines are having problems with this screwed up economy. I think Winnebago is still operating with bkrpt. right now. But if things don;t get better soon they will be in trouble also.
Good luck man and hope your dealership does well and makes it through these hard times.

 

[DisneyBishops]

This is scary news! We have a Fleetwood TT.

Fleetwood is still operating so they should be able to honor warranty on TT's.

 

[69RoadRunner]

Fleetwood is still operating so they should be able to honor warranty on TT's.

They are operating, but if they filed for chapter 11, they might not be honoring warranties.

It depends on what happens in the court. Warranty claims are a liability.

 

[tim5055]

They are operating, but if they filed for chapter 11, they might not be honoring warranties.

It depends on what happens in the court. Warranty claims are a liability.

And even if they are honoring them, all "goodwill" work (i.e. it's not specifically covered under the warranty, but Fleetwood pays to have it done) will go away. I know that on several occasions repairs to some of my Fleetwood products were covered as goodwill repairs.

It's really a bad time for al the manufacturers.

 

[loveDmouse]

Warren Buffett has bought up some of these rv companies and I understand he is going to do the same with Fleetwood. I will try to find the link where I read that. It was on one of the rv forums.
He now has Coachmen because Coachmen was bought out by some other company (can't remember the name).

I found this interesting. According to a local dealership that was on the news recently things are picking up for them.

 

[DisneyBishops]

Warren Buffett has bought up some of these rv companies and I understand he is going to do the same with Fleetwood. I will try to find the link where I read that. It was on one of the rv forums.
He now has Coachmen because Coachmen was bought out by some other company (can't remember the name).

I found this interesting. According to a local dealership that was on the news recently things are picking up for them.

Dang what does he want a free RV. Heck he could buy anyone he wanted and hire a driver for it. But he is a smart investor and he will make money out of this deal no doubt. I hope he keeps a few of them going so they can keep people employed.

 

[des1954]

Berkshire Hathaway already owns Clayton Homes (manufactured housing), and Clayton sells under many other names such as Southern Energy, Schult, Crest, and Marlette, to name a few. B.H. also owns River Forest (which bought Coachman in January), so it would make sense for B.H. to buy up their competitor, Fleetwood. The local Fleetwood plant here in Polk County Fl is all but closed. The last I heard, they were building about 5-8 homes a month. Sorry to say, but Fleetwood manufactured houses are the "bottom dwellers" of the manufactured housing industry. If Buffet, via B.H. takes over Fleetwood, it will only get better. Buffet doesn't invest in a company with no future.

I doubt he would look to buy Monaco or Country Coach because they sell to a limited clientele.

 

[AuburnJen92]

I was told by my Mgr. and our parts guy that Monaco and all the brands under it are gone. He has been trying to get parts for a unit and can't get a hold of anyone or even get a call back. They also said that Fleetwood has closed thier entire TT. division. we can't get parts for them either.
They are not sure what we are going to do for the units we have sold that are still under warranty

um, please Lord tell me you are kidding

now i have to hunt parts (maybe they won't be so dang expensive now!)

 

[RNmomnFL]

OK! Just told Hubby & the kids that absolutely nothing can break on our TT from now on. Really though, duct tape fixes everything (thinking optimistically here).

 

[ftwildernessguy]

I assume that means the end of Coleman, too. That is a shame. For many years, Coleman set the standards for pop ups.

 

[des1954]

Products used in RV's that were produced by another manufacturer (i.e. Dometic, Coleman A/C, GE Microwave, etc...) if they are still under the OEM warranty - will be covered by the original manufacturer. The down side to this is, if the RV manufacturer used "in stock" products that were old by the time they were installed in the RV, the OEM warranty might have expired before you bought the RV.

If your RV is a year old, or older, you are probably out of warranty anyhow.

Now the question is.... will there be "after-market" parts available? Most gas and diesel RV engines and drive trains can be repaired by large truck repair shops, and in the case of Class C's or A's on Chevy, Ford, or Dodge chassis, there are a few dealers in every state that can repair them. Diesel mechanics can handle most problems on diesel Class A's. Items that are specific to individual RV's may present problems.

If you need to replace a cabinet door, a wall panel, need body work done, your going to need to either (a) be very inventive and handy or (b) start shopping around on e-bay or flea markets to find what you need. It will be like trying to re-build a vintage car and scouring every resource available to find what you need. I don't see this happening for awhile, though.

When is this insanity going to end??

 

[ftwildernessguy]

I don't know, Deb, this is kind of like going back to the roots of rving. That pioneer spirit that fostered the rv lifestyle. Doing it yourself, piecing things together, searching for parts to breath some life into that old trailer to get just one more camping trip out of it. I embrace the challenge! Westward ho! Circle the wagons and get the women and children inside! Rawhide! Get along, doggies!

 

[tim5055]

I assume that means the end of Coleman, too. That is a shame. For many years, Coleman set the standards for pop ups.

Actually, the end of Coleman was in 1986. Coleman sold the plant and rights to Coleman pop ups to Fleetwood.

Fleetwood sold everything again to FTCA, Inc. "Coleman" pop ups should be safe at this point.

Somerset, PA., May 12, 2008 - FTCA, Inc. a subsidiary of Blackstreet Capital Partners, a Bethesda, MD-based private equity fund, has purchased Fleetwood Folding Trailers, Inc. (FFT) from Fleetwood Enterprises, Inc. of California. Founded in 1967 Fleetwood Folding Trailers, Inc. is recognized as a world class leader in folding camping trailers and is known for its exceptional quality and customer service throughout the world.

Since its founding, Fleetwood Folding Trailers has earned a reputation for producing high quality, and innovative products. The company's premier brands include the Highlander Series, Americana Series, Destiny Series, and the Evolution Series known for its unique adventure style and utility.

"Working with the talented team at FTCA, Inc. as well as the dedicated network of dealers across the country, we see many exciting opportunities, said Aldus Chapin, President of Fleetwood Folding Trailers. Under new ownership, we see an opportunity to strengthen our position as a world class leader in the folding trailer market."

Murry N. Gunty, Managing Partner of Blackstreet Capital said, "We are thrilled to complete the purchase of Fleetwood Folding Trailers and excited about the future of the company."

About Blackstreet Capital
Blackstreet Capital Partners, LLC (www.blackstreetcapital.com) is a Bethesda, MD based private equity firm with $88 million of capital under management. Blackstreet focuses on control buyouts of companies that are either underperforming, in out-of-favor industries or are undergoing some form of transition. Blackstreet seeks investments in a range of industries, including manufacturing/distribution, restaurants, specialty retail, business services and health care.

 

[LarryJ]

I've followed both Monaco and Fleetwood Chapter 11 filings and from what I understand Fleetwood is concentrating on their MH and non towable market to remain viable and Monaco is trying to find buyers to stay afloat. Unless a subdivision survives or is bought anything unique like fender skirts, paneling, etc. your are on your own unless you can find who provided that as a sub contractor.

As far as warranty you are from what I can determine SOL. Monaco is trying to pay off creditors, but only those with claims like over a month or so old and won't take on addition debt obligations like a new warranty claim. I understand Fleetwood did something similiar on warranty type debt a couple of months ago.

IMHO and what I have always done is to become handy and your own repair facility and avoid the two middle men ... the dealer and the manufacturer.

Larry