Country Coach is in Chapter 7

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No recovery from chapter 7.  Hope someone buys the inventory and tooling.
 
Somebody might pick it up for a song, getting a bargain on the tooling and intellectual property. But they will be buying from the BK referree & Wells Fargo, not from Country Coach.

The contention that 10 completed coaches are "worth $5 million if sold at auction" is laughable - they would be lucky to get half that, even throwing in the additional partially completed coaches..
 
Once Country Coach shut down for a second time nobody was going to buy a new coach from them when it was clear that they would probably go bankrupt and leave the owners with no warranty and worse no factory support. High end coaches are very complicated and repairs - particularly electrical repairs - can be difficult without factory assistance.

Even with out a warranty from Monaco, I still hope they survive under Navistar to provide factory support. They have already help solve several problems via email.

ken
 
The contention that 10 completed coaches are "worth $5 million if sold at auction" is laughable - they would be lucky to get half that, even throwing in the additional partially completed coaches.
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I think half of that is indeed optimistic.

When Western RV went under, one of my neighbors went to their auction and picked up one of the partially finished assembly line coaches.   The shell was complete but needed graphics (it was pure white).  The electrical system was complete, the plumbing was done except for the installation of the interior fixtures (faucets for two sinks and a shower and the toilet).  It also needed a stove, cabinet doors and a mattress for the bed.  He won the bidding at $20k, got a trip permit, fired it up and drove it home.
 
Dubai makes it look like a ripple in the ocean of debt covering most of the western hemisphere and now the middle east.  It is truly amazing and the most scary situation I've ever encountered.  Even the T-Bills are not "safe".
 
Those coaches have an MSRP in the $600k-$950k range and even that seems like an inflated price compared to competitive coaches in the same class. Wholesale would be perhaps 60% of that (or less), so $300k-$500k is probably the very best that a completed coach might bring at auction. Half that seems more likely. The incomplete coaches will surely go for well under $100k.
 
RV Roamer said:
The contention that 10 completed coaches are "worth $5 million if sold at auction" is laughable - they would be lucky to get half that, even throwing in the additional partially completed coaches..
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Gary:

The bank agrees with you.
 
I hope there can be at least some future support if at least one service center buys some parts, maybe Oregon Motorcoach where some of the ex-CC people work. They did mention that they had the blueprints for our coach where we were there last month.
 
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