From Business Insider;
A Colorado camper manufacturer has filed for bankruptcy.
Hallmark RV, which operates in Fort Lupton at 12524 Weld County Road, filed for Chapter 11 bankruptcy last week.
The company said it has 50 to 99 creditors with unsecured claims. The top 20 creditors were listed in the filings, totaling $47,000 in debt. Hallmark said it has less than $50,000 in assets.
Chapter 11 bankruptcy allows a business to restructure and keep operating while paying creditors over time.
Hubert Ward started making RVs in 1958, but founded Hallmark with his son William in 1969. William Ward is now president and owner, and signed the bankruptcy filing on behalf of the company. He declined to comment.
Hallmark makes pop-up truck campers, meaning the campers are built in and around truck beds. According to the company’s website, all camper exterior frames and roofs are made with fiberglass, but clients can customize the flooring, cabinets or skylights, for example. Campers range from $34,000 to $108,000.
The company’s creditors include outdoor manufacturing companies Dometic Corp. and Torklift International.
Hallmark is involved in one active lawsuit. In October 2022, the company was sued by CF Maier Composites, which said Hallmark failed to pay $1,750,000 for fiberglass composites it ordered. The case was set for trial in November, but will be paused due to the bankruptcy filing.
In summer 2020, Ward told BusinessDen business was booming through the pandemic, as many people took to the outdoors. He said the company had received 300 orders since the pandemic started, a period of time in which it would normally expect to see no more than 20 orders.
Attorney Steve T. Mulligan with Coan, Payton & Payne is representing the company in bankruptcy proceedings. He did not respond to a request for comment.
A Colorado camper manufacturer has filed for bankruptcy.
Hallmark RV, which operates in Fort Lupton at 12524 Weld County Road, filed for Chapter 11 bankruptcy last week.
The company said it has 50 to 99 creditors with unsecured claims. The top 20 creditors were listed in the filings, totaling $47,000 in debt. Hallmark said it has less than $50,000 in assets.
Chapter 11 bankruptcy allows a business to restructure and keep operating while paying creditors over time.
Hubert Ward started making RVs in 1958, but founded Hallmark with his son William in 1969. William Ward is now president and owner, and signed the bankruptcy filing on behalf of the company. He declined to comment.
Hallmark makes pop-up truck campers, meaning the campers are built in and around truck beds. According to the company’s website, all camper exterior frames and roofs are made with fiberglass, but clients can customize the flooring, cabinets or skylights, for example. Campers range from $34,000 to $108,000.
The company’s creditors include outdoor manufacturing companies Dometic Corp. and Torklift International.
Hallmark is involved in one active lawsuit. In October 2022, the company was sued by CF Maier Composites, which said Hallmark failed to pay $1,750,000 for fiberglass composites it ordered. The case was set for trial in November, but will be paused due to the bankruptcy filing.
In summer 2020, Ward told BusinessDen business was booming through the pandemic, as many people took to the outdoors. He said the company had received 300 orders since the pandemic started, a period of time in which it would normally expect to see no more than 20 orders.
Attorney Steve T. Mulligan with Coan, Payton & Payne is representing the company in bankruptcy proceedings. He did not respond to a request for comment.
