| From RVbookstore.com RV News & Newsletter National RV Holdings Inc., of Perris, Calif., shut down its headquarters and main production facility Friday, Nov. 30 and laid off all its 600 employees. The company is a producer of Class A diesel and gas motorhomes with the model names Surf Side, Sea Breeze, Dolphin, Tropi-Cal, Pacifica and Tradewinds.National has lost money every year since 2002, a total
of more than $80 million. Recently the company's stock was delisted
from the New York Stock Exchange because it fell below trading
thresholds.Workers who received layoff notices Friday morning
reported that they said "the layoff is expected to be permanent and the
entire site will be closing."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. Dave Humphreys, the former President of the Recreation Vehicle Industry Association and the company's Acting Chief Executive Officer, stated, "We are saddened to let go our excellent employees, especially so close to the holidays, and even more so because National's motorhomes have never been better than they are today. After evaluating our options, however, we ultimately determined that seeking protection in bankruptcy was in the best interests of creditors and shareholders." Read RVtravel.com blogger Jim Twamley's commentary on this story. Want to keep up with all that's happening in the RV world? Be sure to sign up to receive America's largest and longest-running online newsletter about RVing, RV Travel. Your email address kept private. No exceptions. © Copyright 2007 by RVbookstore.com |