Country Coach back in business

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Country Coach back in business
April 16, 2009

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Luxury motorhome maker Country Coach is back in business, but it will be a scaled down operation. A bankruptcy judge has given final approval to a deal between the struggling Oregon company and its main creditor, Wells Fargo Bank. Whether the company can pull itself out of its Chapter 11 bankruptcy remains to be seen.

The company's newest product, the 2010 model 43-foot Inspire 360, debuts this weekend at The Rally in Albuquerque.

The Register-Guard newspaper in Eugene reported the deal runs through the end of 2009. It will grant Country Coach access to a $3.2 million revolving loan fund, allowing it to sell from its Junction City factory, instead of through dealers.

U.S. Bankruptcy Judge Albert Radcliffe gave preliminary approval to the deal two weeks ago at which time Country Coach resumed production with about 60 workers. The company sought Chapter 11 bankruptcy protection earlier this year after it defaulted on an $8 million loan balance, idled its factory and faced a lawsuit from Wells Fargo. The bank sought to collect on the debt and liquidate Country Coach's assets.

•Used motorhomes for sale at eBay

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