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Old 03-22-2019, 03:30 PM   #1
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Default So where are all the buyers for Roadtrek?

So where are all these supposed interesting parties to buy Roadtrek and restart operations?

Could it be that many of us were right and there simply aren't any?

Time should be up now and move to liquidation I would think.
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Old 03-22-2019, 03:39 PM   #2
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Looks like deadline for bids is April 3, 2019 - https://www.alvarezandmarsal.com/con...tion-materials
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Old 03-22-2019, 05:26 PM   #3
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There are 135 pages in that report... some weekend reading.
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Old 03-22-2019, 07:21 PM   #4
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I really wouldn't expect potential buyers to let on that they are bidding, that would be foolish. We won't know until the end date if there are bidders, or not, and then we will see where it all goes from there.
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Old 03-22-2019, 07:57 PM   #5
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It appears that there are those who are gnawing at the bit to get the opportunity to dance on the grave of Roadtrek, can’t wait to say “I Told You So” ...
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Old 03-22-2019, 09:59 PM   #6
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The report says there are 18 interested parties, but who knows how many of those will bid, and what their intent is if they win...
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Old 03-23-2019, 01:44 AM   #7
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I'm not gnawing at the the bit when over $6 million is owed to several unsecured creditors named Mercedes Benz.

Even Mike Wendland is out over $13,000 dollars. He knows it and quickly threw Roadtrek under the bus.

Fat chance with a tarnished brand name. I think they will be turkey vulture pickings piece meal for what ever the receivership can get.
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Old 03-23-2019, 02:08 AM   #8
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Quote:
Originally Posted by BillsPaseo View Post
The report says there are 18 interested parties, but who knows how many of those will bid, and what their intent is if they win...
I missed that information... do you have a page number.

BTW... numbers in the report of debts are not updated, but it does describe that MB has taken possession of all of the unconverted Sprinters. Also Beaver Motors has been able to take possession of all of theirs too. (Promaster supplier I believe)

It started out with a long list of law firms involved in things and I noted that one was listed as Jeff Hanamayer's lawyers.

There was a phenomenally confusing description of the giant web of Hymer LLC's - a half dozen or more - involved piecemealing the whole process into a likely intentionally opaque system.
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Old 03-23-2019, 02:45 AM   #9
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Quote:
Originally Posted by mumkin View Post
I missed that information... do you have a page number.

BTW... numbers in the report of debts are not updated, but it does describe that MB has taken possession of all of the unconverted Sprinters. Also Beaver Motors has been able to take possession of all of theirs too. (Promaster supplier I believe)

It started out with a long list of law firms involved in things and I noted that one was listed as Jeff Hanamayer's lawyers.

There was a phenomenally confusing description of the giant web of Hymer LLC's - a half dozen or more - involved piecemealing the whole process into a likely intentionally opaque system.
On page 4:

18.As at March 15, 2019, 18 interested parties have executed CAs and been provided access to the Data Room;
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Old 03-23-2019, 04:08 PM   #10
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Thanks for the page BillsPaseo

Quote:
Originally Posted by Davydd View Post
Fat chance with a tarnished brand name. I think they will be turkey vulture pickings piece meal for what ever the receivership can get.
Perhaps, but from all the evidence shown so far, it should not be Roadtrek's name that should be tarnished, but Hymer. They are the ones that swept in and bought Roadtrek, expanded at a ridiculous pace, spending money like a bunch of Vegas drunks... and piled it all into Roadtrek. That was followed by them slinking into the US, "selling" EHGNA to an American LLC... which is nothing but the Hymer family. Selling for Big Bucks their European company to Thor... money from which evaporated into the EU. (Minus a few million for the last payroll of the 900 or so employees that they had just screwed royally)

It is apparent that Roadtrek's accounting system left a great deal to be desired, but why did Hymer not step in and fix that? Instead they added insult to injury by leasing 4 new buildings, 3 of them new factories (?), 5 new product lines, 10 or more new models, (mostly competing with Roadtrek), all done on borrowed money... the debt dumped into Roadtrek... as they waltzed off with Thor... this act seemingly coordinated between the two of them in order for both of them to escape liabilities.

Meanwhile not even a mention of of any possible charges against those removed executives. Apparently no evidence of anything other than crappy record keeping and inflated sales numbers to look good.
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