Trouble at Hymer?

[Deb_and_Ed_M]

Hymer problems

It looks like Thor dodged a bullet as Hymer discloses "problems". It's never a good sign when forensic accountants get involved.

[mumkin]

All the EHGNA web pages... RT, Hymer, Carado... went down on the same day. They were only gone for a few days and came right back up with an added page that refers people to the law firm doing the receivership. Because dealers were still selling the products, new purchasers needed access to the manuals and instruction videos on the website. Plus the information on dealers and service centers approved for RT ... in spite of the dead warranties.

A report came out last week from the law firm handling the Receivership and if you are suffering from insomnia, you might want to read the 135 pages. A quick summary is that it has been offered for sale (in whole or in bits) to 60 different entities and 18 of those have filed "Confidentiality Agreements" to gain access to the information needed for them to possibly make a bid. This is on page 20. If interested, they have until April 3 (or maybe later if the Receivers wish to extend it) to make their bid and pay a deposit.

The Receivers re-hired 35 of the staff to maintain the factory at what they call a "warm idle" so that any purchaser can quickly start things up again.

Receivership report

[NoVa_RT]

The Roadtrek website is back online, with no apparent mention of their current difficulties. Don’t know if it means anything about the company’s future prospects, but good news for anyone needing a manual, specifications, or other info.

[My_Roadtrek]

Any holes cut in the body, or enlarged “could” present an issue if MB wanted to get picky.
When warranty work is required assume nothing. Bring the Service Manager some donuts.;)

[mumkin]

EHGNA lost their master upfitter title because of the volt start. So, since that is the only alteration, I would expect that the only effect on the warranty would be on that part of the electrical system. I can't see MB getting away with voiding the warranty on say the transmission because of a remote starter.

[AsheGuy]

My Roadtrek wrote:
Watch this video, good information for those who own a Roadtrek, or other Hymer products. MB owners may be out of luck on chassis warranty work since MB revolked Roadtrek’s Certified Mercedes Benz Master Upfitter’s license. The video does a good job of explaining this.

Hymer Scandal how it affects owners

Not a Roadtrek owner but interesting nonetheless. Emphasizes why it is important that conversion companies stay within the limits of chassis manufacturers requirements.

[My_Roadtrek]

Watch this video, good information for those who own a Roadtrek, or other Hymer products. MB owners may be out of luck on chassis warranty work since MB revolked Roadtrek’s Certified Mercedes Benz Master Upfitter’s license. The video does a good job of explaining this.

Hymer Scandal how it affects owners

[RobertRyan]

mumkin wrote:

NoVa RT wrote:
That's probably right, but my thought was that Hymer might seek to maintain control post-bankruptcy to reestablish the Roadtrek value to avoid taking a big loss if no suitable buyer came forward now.

They have put it into receivership which means that they have accepted the loss already... and just want out... ASAP. They have definitely besmirched their name. I consider them little better than corporate criminals.

Which is a tragedy for Canadian RV manufacturing. It will have remifications in Canada and the US

[mumkin]

NoVa RT wrote:
That's probably right, but my thought was that Hymer might seek to maintain control post-bankruptcy to reestablish the Roadtrek value to avoid taking a big loss if no suitable buyer came forward now.

They have put it into receivership which means that they have accepted the loss already... and just want out... ASAP. They have definitely besmirched their name. I consider them little better than corporate criminals.

[ctilsie242]

I don't think the RT vans will really be devalued. I have seen 10 year old Roadtrek T1N Sprinter models going for MSRP in my neck of the woods... and people paying for them.

I think there will definitely be third party sources for the stuff RT made, so if something breaks, you won't be completely SOL.

[NoVa_RT]

The Hymer family wants out of the RV business and sold their flagship operation in Europe. I think it is a very safe assumption that they have less than zero interest in pumping tons of cash to run a business in Canada that would be unable to use their name brand, which is now owned by Thor.

That's probably right, but my thought was that Hymer might seek to maintain control post-bankruptcy to reestablish the Roadtrek value to avoid taking a big loss if no suitable buyer came forward now. They'd be betting they could do a short-term turnaround, and get a better deal, but that may be overly optimistic. Without knowing the details of the current problems (seems pretty bad) it's difficult to say whether anyone is going to be interested in acquiring the company.

Obviously, everything is in flux, but not maintaining even a barebones website (with manuals & specifications), or posting any explanation for taking down the site, suggests that resuming operations are not the current focus. Sad.

[mumkin]

NoVa RT wrote:
Best case scenario would seem to be a well-funded buyer or Hymer itself reopening Roadtrek without too much delay, but the website being completely taken down has me wondering if this might be the end of the Roadtrek brand. I'm not expecting to sell or trade anytime soon, but I assume an "orphan brand" that is no longer manufactured loses some value. Tough time for those in the middle of transactions or in need of factory support.

The Hymer family wants out of the RV business and sold their flagship operation in Europe. I think it is a very safe assumption that they have less than zero interest in pumping tons of cash to run a business in Canada that would be unable to use their name brand, which is now owned by Thor.

The websites have changed their message to "under construction" theoretically for a new buyer.

We ran a thread of new names for our rigs, and mine became "Little Orphan VANnie." But more seriously, if RT is no more, I suspect that the drop in value will be short term just because of the scarcity of Class B's which have been selling very well the last few years; and with the younger people getting into the lifestyle, the value will recover. Barring a major recession...

[NoVa_RT]

Best case scenario would seem to be a well-funded buyer or Hymer itself reopening Roadtrek without too much delay, but the website being completely taken down has me wondering if this might be the end of the Roadtrek brand. I'm not expecting to sell or trade anytime soon, but I assume an "orphan brand" that is no longer manufactured loses some value. Tough time for those in the middle of transactions or in need of factory support.

[RobertRyan]

pasusan wrote:
It would be cool if the employees could get together and buy it.

Best thing for the Company and current emplotees
Meanwhile this startup started two years ago is expanding in Australia
Sptinter and IVECO based models
Latitude Motorhomes

[pasusan]

It would be cool if the employees could get together and buy it.