> Here's a newsletter I get frequently:
>
https://goo.gl/VdnjJc
> I post it here because of this sentence it contains:
> "What's next for buyers of Roadtrek and other Hymer motorhomes now that the company is belly up? Their warranties are now worthless. "
> I thought Hymer was doing great and had just bought Roadtrek. Anyone have any more information?
>
> Ken H.
OK,
Lets see if I can even explain what I think I know.....
Erwin Hymer Group bought American Fastback. AF was the parent company of Roadtrek. This was all on the basis of Roadtrek's financial reports. EHG
formed EHGNA to include AF and something else (?).
Big problem: EHGNA got looking at what they bought and the picture on the cover did not look at all like what was inside the box. So, they did an in
depth forensic audit. They found out that nothing matched anything. The CEO and CFO of AF were walked out of the building by security as well as
several hundred recent employees.
Thor has published a statement that their planned acquision of EHGNA was on hold. (I think that might be an understatement.)
This was all published news.
As nearly as I could gather from my inside friends that could speak, AF/Roadtrek was doing a deal where their sales looked bleak, so they invented
VINS, and posted invoices for said VINS. They also sold received and billed materials off-book to keep a workable cash flow. One contact knew about
this and was just wondering when it would all implode.
The AF people were thinking that they were in the clear as they had closed the sale to EHG, but that is how looking grim for them.
That is what I think I understand and I make no claim of accuracy for anything but the published story.
Matt
--
Matt & Mary Colie - '73 Glacier 23 - Members GMCMI, GMCGL, GMCES
Electronically Controlled Quiet Engine Cooling Fan
OE Rear Drum Brakes with Applied Control Arms
SE Michigan - Twixt A2 and Detroit
