Outfitter Manufacturing no longer in bankruptcy

[saltamontes]

saw this over on rv.net:

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

 

[DirtyDog]

Sorry to hear it. They made good campers.

 

[Scott Brady]

I am sorry to hear that as well. Times have been tough on these manufactures. I wish them and their families all the best. I am sure it has been tragic for them.

 

[haven]

Brian Ward's grandfather started Hallmark RV, another manufacturer
of slide-in campers based in Colorado. Hallmark and Outfitter products
bear a strong resemblance to each other. Read about Hallmark here
http://www.hallmarkrv.com

Here's hoping that Hallmark will be able to weather the storm that is
bringing down its neighbors.

Chip Haven

 

[Abel Villesca]

That's sad news.

 

[pint]

I am sorry to hear that as well. Times have been tough on these manufactures. I wish them and their families all the best. I am sure it has been tragic for them.

X2! Sad, sad times.

 

[boblynch]

Brian Ward, Owner of Outfitter Manufacturing, Inc., submitted the following announcement to Truck Camper Magazine yesterday regarding their recent filing for Chapter 11 Bankruptcy:

"Outfitter Manufacturing, Inc. filled for Chapter 11 bankruptcy as a means of protection from our building lender. In the midst of the current recession and lending freeze, we have been unable to come to an agreement with our banks concerning our building. We had a loan for our building that was refinanced. After the refinance took place, there was a dispute over a filing error. The initial deed was filled in the wrong county and the bank refused to acknowledge the error. The bank holding the original loan then refused to let the loan go since we were using this bank as our line of credit as well.

This situation left us responsible for two mortgages. Since everything is cross collateralized, the only available response was to file for Chapter 11 to force the bank to sort out the problem. We are currently in negotiations with the bank through the courts.

The Chapter 11 filing in no way affects Outfitter Manufacturing. We are still in business and will continue to be. Filing for Chapter 11 is our solution for ending a year long fight over what should of been a simple loan. As we stand now, we are on schedule to have Outfitter Manufacturing, Inc. out of Chapter 11 in two to three weeks."

I hope everything works out for them quickly. It would be a shame to see another high quality supplier drop from the radar.

 

[Stroller]

We should know in 3 weeks if they are ok. I'm surprised the minority shareholders had to file for bankruptcy a month earlier.

Hallmark seems to be doing well enough. The were investing in another mold for a new version of their Ute camper. Or so goes the rumor.

 

[trails2004]

How can a person refinance with another bank- while hold a line of credit from the original bank ?? Can someone please explain this??

As Stroller wrote- it is odd the minority stakeholder filed in August- ?? It sounds like maybe more to the story than was written on TCM.

PS --great forum-- I just took the time to log in- I cant wait to learn more!!

 

[haven]

Outfitter Manufacturing came to an agreement with their major
lender. The bankruptcy application was withdrawn, and Outfitter
emerged from Chapter 11 status in late November, 2009. Here's
hoping that they are able to take advantage of the second chance.