adamboyd
BC Canada
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Moderator Update on 12/11/09: Latest Information Link
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On Oct. 8, Longmont-based Outfitter Manufacturing Inc. filed for Chapter 11 bankruptcy, noting liabilities between $1 million to $10 million. The manufacturer of pop-up tops for recreational vehicles has up to $50,000 in estimated assets, according to the filing.
Outfitter Manufacturing was founded in 2001 by a family whose history in the RV industry stretched back to 1959.
Brian Ward, the company's president, filed for bankruptcy on Oct. 8 and minority shareholders Robert and Sara Ward filed for bankruptcy on Aug. 3, according to the filing. A man who said his name was Brian when answering Outfitter Manufacturing's phone on Tuesday declined to comment.
http://www.dailycamera.com/boulder-business/ci_13663940
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adamboyd
BC Canada
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It is sad to see this happen to Brian and the company. Outfitter had just announced their "Juno" camper and it looks like the financial difficulties have hit them hard... I know a lot of people on here own Apex or Caribou campers and sucks to see this happen.
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weymard
FRANCE
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very very sad, it was an interesting camper.
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Reddog1
El Dorado, CA
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Isn't Chapter 11 bankruptcy for reorganizing, not necessarily to close the doors?
I find it interesting to have so much debt, with so little assets. From what I understand, they had no dealers, nor TC inventory. Maybe they have been operating at a loss for a long time. Hopefully they can pull out of it, but on the surface it sure does not look good for them.
Wayne
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BroncosFan
USA
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True no dealers, nor TC inventory, and weren't they sharing the building with some other company?
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seldomseensmith
Flagstaff, AZ
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From Wikipedia:
When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11.
In Chapter 7 the business ceases operations, a trustee sells all of its assets, and then distributes the proceeds to its creditors. Any residual amount is returned to the owners of the company. In Chapter 11, in most instances the debtor remains in control of its business operations as a debtor in possession, and is subject to the oversight and jurisdiction of the court
I am not surprised by the announcement of Outfitters financial struggles - small companies all across the country are in the same boat with the economic downturn.
Think about the expenses a small business owner incurs. Labor is the biggest, along with the overhead of maintaining a manufacturing facility. I don't know what the margins are on the products they build, but unless they are doing a certain volume of business it would be difficult at best to keep paying the bills and maintain a qualified staff working at reasonable wages unless it were fairly high.
Outfitter campers have always been a niche market, despite the fierce loyalty displayed by their owners (I happen to be one). Maybe the Chapter 11 will give Brian time to come up with a business plan that allows the company to return to profitability.
I certainly hope so.
The Journey of Seldomseensmith
2008 F250 SD 4x4 Supercab, Detroit True Trac (both axles), 2006 Outfitter Caribou 6.5
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BradW
Flat Rock, Alabama
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Anyone have an idea of how many campers Outfitter was selling each year?
I would think the number would be pretty low. When we were in Colorado earlier this year for 2 weeks, I kept a rough count on pop-up TC's. We saw a lot of Halmarks (20?), almost as many North Stars (15?), but very few Outfitter campers (2 or 3?).
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fast.5
Ontario, Canada
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If it keeps up we will soon be sleeping in cardboard boxes in the back of our trucks... Up side the weight police will not be able to get anyone
Mike
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MTW1
north carolina
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BradW wrote:Anyone have an idea of how many campers Outfitter was selling each year?
I would think the number would be pretty low. When we were in Colorado earlier this year for 2 weeks, I kept a rough count on pop-up TC's. We saw a lot of Halmarks (20?), almost as many North Stars (15?), but very few Outfitter campers (2 or 3?).
Not enough
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Reddog1
El Dorado, CA
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I really wonder as to how factual the report is:
"Separately, on Oct. 8, Longmont-based Outfitter Manufacturing Inc. filed for Chapter 11 bankruptcy, noting liabilities between $1 million to $10 million. The manufacturer of pop-up tops for recreational vehicles has up to $50,000 in estimated assets, according to the filing."
I find it difficult to understand why there is $9 million difference in the liability number. The numbers suggest they spent over $1 million a year since they opened, and this does not include any TC sales. Makes no sense to me.
Wayne
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