07-08-2019, 10:12 PM
So this chapter is coming to a close, with a receivership auction next week:
https://infinityassets.com/erwin-hymer-g...ation.html
There is a long and detailed article in the Record about how the company ended up in this situation, although even after that, I'm not clear on (1) where all that money actually went, and (2) how it is possible that the EHG parent company did not spot any of this prior to selling the North American operations.
https://www.therecord.com/news-story/949...h-america/
As some good news (or at least mitigating the bad news) the RoadTrek brand has been purchased by Rapido SAS, a French competitor of EHG, which will also be taking over one of the four RoadTrek/EHG facilities. Relating to the purchase earlier in the year, the Rapido press release said
The "new" RoadTrek will be operating from 20 Tyler St in Cambridge.
https://infinityassets.com/erwin-hymer-g...ation.html
There is a long and detailed article in the Record about how the company ended up in this situation, although even after that, I'm not clear on (1) where all that money actually went, and (2) how it is possible that the EHG parent company did not spot any of this prior to selling the North American operations.
https://www.therecord.com/news-story/949...h-america/
As some good news (or at least mitigating the bad news) the RoadTrek brand has been purchased by Rapido SAS, a French competitor of EHG, which will also be taking over one of the four RoadTrek/EHG facilities. Relating to the purchase earlier in the year, the Rapido press release said
Quote:Pursuant to the letter of intent, Rapido has agreed to purchase substantially all of the assets of EHGNA relating to Roadtrek. Rapido has the intention of assuming the lease of one of the existing manufacturing and assembly facilities. Subject to ongoing due diligence and the execution of a definitive purchase agreement, Rapido plans to re-establish and reinvigorate the Roadtrek business.
Rapido's President Pierre Rousseau noted, "Roadtrek is a well established leading brand in the B Class segment of the RV market. Our priority will be to re-establish operations and further develop this famous brand in North America." In doing so, Rapido expects to hire a workforce that could grow eventually to more than 200 employees.
The "new" RoadTrek will be operating from 20 Tyler St in Cambridge.