Hymer North America gone bust (1 Viewer)

[lozbou]

hymer North America has gone pop. Instantly dismissed over 900 employees and won’t honour any warranty’s . Could this just be the start.

 

[ShiftZZ]

https://www.therecord.com/news-stor...north-american-operations-in-waterloo-region/

 

[Speve]

Sounds like Thor industries have taken on a lot of debt $10m secured and $180m unsecured doesn’t sound good does it?

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[Gellyneck]

Sounds like Thor industries have taken on a lot of debt $10m secured and $180m unsecured doesn’t sound good does it?

The article above says the US arm of Hymer was excluded from the purchase.
Corner Flag LLC seem to be the loser but wonder if they'll have any comeback given financial misdeclarations?

 

[Theonlysue]

Old news on the Hymer forums, specially the american ones.

 

[DuxDeluxe]

Old news on the Hymer forums, specially the american ones.

Yes it was reported some time ago and why the US arm was excluded. Wasn’t there an accounting scandal to do with it as well?

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[Xabia]

Yes, apparently they said they had sold or produced a lot more vehicles than they factually had.

 

[Theonlysue]

They had different sales imvoices with the same vin numbers.
I assume due diligence was done before the purchase to check all ok??

 

[LesW]

Ah.. American companies

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[Langtoftlad]

Fault of Brexit... obviously

 

[TinaLes]

Any updates available on Hymer manufacturing in Germany, are still taking orders?, will existing warranties be upheld?
What about Travelworld opening their new showroom, and calling it after Erwin Hymer, how will they now be affected?
Seems that's not the case in North America, Hymer sold out to Thor as we know, but existing US customers are in a quandary, especially the Merc Sprinter based vehicles as they apparently did not have the authority to alter/adapt the Merc Chassis, from Mercedes.
Availability of some spares going forward seems to be a concern for many owners over there.
Bloody shame, hope the German plant will survive, after the full audit is finished.

Les

 

[TinaLes]

Found this from a reviewer in The US, tells the story for US van owners.

Les

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[tony_g]

Any updates available on Hymer manufacturing in Germany, are still taking orders?, will existing warranties be upheld?
What about Travelworld opening their new showroom, and calling it after Erwin Hymer, how will they now be affected?
Seems that's not the case in North America, Hymer sold out to Thor as we know, but existing US customers are in a quandary, especially the Merc Sprinter based vehicles as they apparently did not have the authority to alter/adapt the Merc Chassis, from Mercedes.
Availability of some spares going forward seems to be a concern for many owners over there.
Bloody shame, hope the German plant will survive, after the full audit is finished.

Les

Doesn't seem to be anything to do with Hymer/Thor Industries. Probably just a cute divestment of a less than attractive portion of Hymer before the Thor deal.

 

[Peppadog]

I am sure I read Thor excluded the US business from the deal at the time due to the fraud issue

 

[peterc10]

Any updates available on Hymer manufacturing in Germany, are still taking orders?, will existing warranties be upheld?
What about Travelworld opening their new showroom, and calling it after Erwin Hymer, how will they now be affected?
Seems that's not the case in North America, Hymer sold out to Thor as we know, but existing US customers are in a quandary, especially the Merc Sprinter based vehicles as they apparently did not have the authority to alter/adapt the Merc Chassis, from Mercedes.
Availability of some spares going forward seems to be a concern for many owners over there.
Bloody shame, hope the German plant will survive, after the full audit is finished.

Les

There are no problems at all with Hymer in Germany and no suggestions that they will close down or stop work. This is a story about an American company that I believe had the franchise for selling Hymers in the USA. My guess is that Hymer's new owners, Thor, will take over that roll now.

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[Peppadog]

Now checked it out: Thor Industries did not include the US Hymer company it in their acquisition of Hymer group. I believe it was traded as a separate company within the Hymer group. It is now in receivership. See here:

https://rvmiles.com/erwin-hymer-north-america-roadtrek-is-done-entire-staff-laid-off/

The receivership will not impact Thor Group or their new acquisition, Erwin Hymer Group. So there is NO problem with Hymer group - now owned by Thor industries.

The US operation was not a franchise. Hymer bought Roadtrek in 2016. Someone will probably buy it out of receivership, or significant parts of it as Roadtrek was pretty big when Hymer bought it. Hymer will have lost a lot of money over this. It might be the reason they sold out to Thor, But I am guessing if that is true.