National RV Goes Bust & Shuts Down

Discussion in 'American RV's' started by ukrv, Dec 1, 2007.

  1. ukrv

    ukrv Deleted User

    Just in case any of you were looking for a new RV:-

    12:29 PM PST on Friday, November 30, 2007

    The Press-Enterprise

    Perris-based National RV Holdings Inc this morning shut down its headquarters and main production facility and laid off all its employees, according to a layoff notice given to workers.

    The company employed about 600 workers at the Perris facility. It has lost money every year since 2002, a total of more than $80 million in that period. Recently the company's stock was delisted from the New York Stock Exchange because it fell below trading thresholds.

    In its most recent quarter, sales were reported down 42 percent, according to a financial report released in August. The company reported an $8 million loss for that quarter.

    Workers who arrived at work Friday morning were given notices announcing the layoffs. By noon, dozens of workers waited outside the main office to pick up their checks and layoff notices, huddling under an awning to stay out of the rain.

    The letters said "the layoff is expected to be permanent and the entire site will be closing."

    Jonathan Corn, vice president and general counsel of the company, announced the closing Friday in a prepared statement.

    "Our board of directors decided last night to shutter National RV Holdings. At this time it is unknown whether this will be temporary or permanent," the statement said.

    Corn confirmed there was a first round of layoffs at the plant on Monday.

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