Top

Carriage Reportedly Faces Financial Difficulties

  Print Print

October 18, 2011 by   7 Comments

 Although no one from the company was available for comment, word on the street around the RV-building center of Elkhart County, Ind., today  (Oct. 18) is that old-line RV manufacturer Carriage Inc. sent home its employees Monday as the company’s senior management attempts to sort  through financial difficulties.

A total of about 180 employees were reportedly sent home because the Millersburg, Ind., firm, long known as a stable higher-end towable  manufacturer, could not come to terms with its lenders and, thus, couldn’t guarantee that the employees would be paid.

Carriage, co-founded by Clarence Yoder in 1969 and currently owned by President and CEO Glenn Cushman, manufactures the Cabo, Cameo, Carri-Lite and Royals International towable brands at its sprawling campus.

Cushman, a former investment banker who resides in Phoenix, Ariz., purchased the company from Yoder in 1999.

 

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

Comments

7 Responses to “Carriage Reportedly Faces Financial Difficulties”

  1. Darlene Leavitt on October 18th, 2011 11:04 am

    I really hope that Glenn and Carriage can find their way through this! I consider both to be family! I have been a proud Carriage dealer for 12 amazing years. My thoughts are with everyone at Carriage. I hope that you get the funding that you need to continue!

  2. John on October 18th, 2011 1:55 pm

    This hurts the whole industry with this news. The buy-back laws hurt smaller manufacturers when dealers demand either huge discounts or they will send the product back. Small companies can’t stay in business with this type of practice. One large stocking dealer can put a smaller manufacturer under.

    Carriage is a good company building a good product. Hope they are able to recover.
    And yes, we are a competitor but it’s always good to have competition.

  3. Bill D on October 18th, 2011 2:15 pm

    All’s you had to say was “Investment Banker” and you will know
    why they are in the situation that they are.

    No worries for the Banker’s they no doubt; pulled all the money out that
    they needed to.

    Now you can wait for the next “Investment Banker” to come in; buy it for dimes on the dollar; and start the cycle again.

    Yes, I am cynical; because I have seen it all.

  4. Rich on October 18th, 2011 2:40 pm

    Really? Word on the street? That is not exactly reporting now is it. Isn’t that more like rumor mongering and gossip? I know you want to be first on the story, but it’s sad that we are “reporting” “word on the street”. You guys are better than that.

  5. Wild Wolf Products on October 18th, 2011 7:20 pm

    Sure hope they get this worked out. As we plan on buying a new Cameo in the spring time. They Carriage Inc builds one of the best Rv’s out there for the Money. So i’m sure they will have all these issues worked out within the next few weeks. Thus back to building the fine Units they have been building for years.
    Pete

  6. greg on October 19th, 2011 11:27 am

    Hope they find their way back to legitimacy . We were a long time dealer of Carriage products and the last few years has been very difficult for us and our customers to be reimbursed for warranty.

  7. Carriage Owner on November 29th, 2011 12:50 am

    I was notified by my dealer (Colerain RV) they are no longer providing
    warranty service on Carriage products.
    It was explained ” We are legally unable to provide “warranty service”.
    It was also explained service is still available but will be charged to the customer.
    What happened to the two year warranty ?
    I also purchased an extended warranty package at a cost of over $2,000.00
    which Colerain RV insists does not cover the RV if the “manufacturers warranty”
    is in effect.
    Therefore my one year old $63,954.33 fifth wheel RV has no current warranty
    coverage for the next year until the “manufacturers two year warranty” lapses and the extended warranty goes into effect.
    I would urge effected RV owners to unite with regard to this issue.

    Effected Owner
    Seems RV owners should be checking into their options regarding this policy !

Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!





*

Bottom