Trouble at Hymer?

I have a friend that was working there and while he could not tell me everything he indicated that intentional financial corporate malfeasance on the part of management in the ErwinHymerNA division was at the root of the troubles. The last I spoke with him a few days ago production was halted while an inventory of absolutely everything was counted and recorded leading him to hint to me there was accounting irregularities suspected.
Makes me angry for him for loosing his job and for the history of the Roadtrek brand.

Hymer/Roadtrek goes into receivership.

If one wants to wade through the leagal stuff.
https://www.alvarezandmarsal.com/content/erwin-hymer-group-north-america-inc-motion-materials

Lots of speculation as to the causes and we will likely have to wait and see if the management malfeasance reached the level suggested by the rumors leaking out from various employees and result in criminal charges. Obviously there were accounting games going on, but whether that was for P/R (we sell the most B's!!!) or personal enrichment remains to be seen.

That said, IMHO Hymer shares a lot of the blame - if not most. First, why didn't they catch and stop the problems in the books that likely existed before their purchase. And, many of us owners felt that the Hymer branch completely overextended itself trying to introduce too many options way too quickly... with most of them in competition to their Roadtrek brands. That rapid expansion in facilities and models and salary all financed to the hilt and dumped into Roadtrek.

Now sold to a newly created US Limited Liability Company called Corner Flag, LLC... which is likely the Hymer family's new company for bailing out. I suspect that Thor is lurking nearby waiting for the bankruptcy to pick up whatever they want of it... which will likely be little but perhaps the brand name. But I'm a pessimist...

Lots of good people have lost their jobs and if it re-opens very few of them will be rehired in that much smaller company. Lucky for them the Toyota factory is hiring.

So much for our 6 year warranties... which my pessimism assumes that no purchaser will feel any need to respect. Glad that mine is the basic Simplicity with the cheap and easy stuff to maintain that any RV company can fix.

Certainly no good news, or news period seems to be coming from Hymer.
More on Hymer Scandal.

The only update to the article is that ALL of the Hymer and Roadtrek websites disappeared on the same day. None made it through the weekend. People are gathering up whatever manuals online they have and trying to figure out how to get it all together on a website - for now being stuffed into the files sections of the Facebook pages.

If one is in the market for a class B, this is a major buying opportunity. Dealers are dumping all of the Hymer/Roadtrek models for 40-50% off MSRP that a couple weeks ago one was getting only 15-20% off. Many are also offering a free 3rd party warranty or at least selling them at cost.

Another positive note is that there are dealers (like Sunshine State in Florida) who have come on Facebook and assured us that they have most of the parts in their inventory or know where to get anything that we could need... and they have proven over the past few years to be able to fix glitchy electric systems that even the factory failed to fix - and are very welcoming to even those who did not buy there. There are the two independent Roadtrek gurus in California that have reported that they have access to everything anyone needs. And the Roadtrek employees in the service and warranty departments from the factory are stepping up to help owners, even though right now all the can offer is advice.

A couple nightmare stories... one man reported last week that his rig was at the factory for work and he was obviously worried that it wouldn't be finished and/or locked in. I haven't seen any update, so it is likely behind the padlocks. Another woman reported that her rig was completed at the factory and the trucking company that has it refuses to release it to her because EHGNA owes them money. They are insisting that she pay their full bill... not just the bill to deliver her vehicle. Both of these cases will likely eventually be cleared up... but both will cost them money and lots of time and aggravation to get their rig back into their hands.

Finally a glimmer of hope. Jeff Hanemaayer has posted on Facebook that he is offering his assistance to any possible buyer. One key detail is that he holds the lease to the factory.

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

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

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.

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...