Monaco Coach Corporation Goes Bankrupt
March 5, 2009 by Stephen Kersey
Filed under Business
Monaco Coach Corporation, one of the world’s leading makers of recreational vehicles has filed for bankruptcy. Although the company will continue to be run, it has let go virtually all of its employees and is looking to sell off its remaining assets.
Monaco Coach - Source: Flickr
According to reports, Monaco Coach Corporation has as much as $500 million of debt. After spending much of the last two years attempting to salvage their business model, the company was hampered by the recent struggles of the United States economy.
Considering that the sale of recreational vehicles is connected closely with both economic confidence and luxury spending, it’s no surprise that Monaco Coach Corporation wasn’t able to survive the recent events in the business world.
As recently as 2005, Monaco Coach Corporation had nearly 5,500 employees and sales of more than $1 billion. The company was responsible for a number of recreational vehicle brands such as Holiday Rambler, McKenzie, Monaco, R-Vision and Beaver.
Source: Wire Reports
I THINK IT’S PRETTY SHADY HOW THEY TREATED THERE EMPLOYEES BY GIVING THEM
FALSE AND MISLEADING INFORMATION! PRODUCING A FALSE SINCE OF SECURITY, IN
FACT LEADING THEM TO BELIEVE TILL THE VERY DAY THEY WERE DUE TO RETURN TO
WORK THAT EVERYTHING WAS ALL RIGHT AND THERE WAS SECURE JOB AWAITING THEM. A
MISJUSTICE INDEED, THEY COULD HAVE BEEN MORE FORTHCOMING TO THERE LOYAL
EMPLOYEES SO THAT THEY COULD HAVE BEEN BETTER PREPARED AND A HAD BETTER
CHANCE TO ESTABLISH NEW EMPLOYMENT TO SUPPORT THERE FAMILIES. MAYBE THATS ALL
YOU EXPECT FROM BIG BUSSINESS.
i have a 07 holiday neptune camper38 foot motorhome. i still owe money on it and it is still under warenty what do i do?
thank you
jim foley
I’m sorry for the honest employees, but I’m tickled that they are bankrupt and don’t feel a drop of simpthy for the employees at the Indiana plant that lied to us. We had the misfortune of buying one of their brand new lemonds, oh they were going to come get it and fix it, especially after one of the dealerships made a mess with it, well when it came time to come get it and fix it. We were told tough, they weren’t fixing anything. We even had a whole window fall out while going down the highway, leaks galore, and a manufacture defect toliet that we had to fix ourselves, along with everything else. No! I hope the honest people find jobs but I hope Monaco Coach never recovers.
We have been faith full HRC customers since 1979. After we purchased our 2004 Vacationer, we had more issues than all our previous coaches combined. After
the factory took over warranty work from our dealer,the Coburg facility gooffed up every thing they touched. We pulled the unit out and finished the remaining work at home. We will never buy another HRC as long as Toleson and the customer service GM is with the company. We also hope the company goes under for ever, as the Monaco LLC is still putting the screws to our dealer, as we speak. The dealer has been with HRC since 1969.