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MVP RV Shuttered, Assets Go to Liquidation Firm

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February 21, 2012 by   1 Comment

MVP RV, the Riverside, Calif., recreational vehicle maker that credited its revival to Chinese investor Winston Chung who pledged to give the company $310 million to build RVs for China, has gone out of business, according to the firm now managing its assets.

The Press Enterprise, Riverside, reported that the company assigned all of its assets to a private, non-profit, liquidation firm on Dec. 12, according to Michael Joncich, manager of Credit Management Association’s adjustment bureau. MVP RV had sold off all its trailer and RV inventory to dealers and since December had not taken any new orders, Joncich said.

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One Response to “MVP RV Shuttered, Assets Go to Liquidation Firm”

  1. Eric B. on April 14th, 2012 8:25 am

    At the risk of seeming like I’m engaging in a little schadenfreude, I have to offer that the adage “you reap what you sow” probably is coming into play, here. As a former supplier to the industry, and some who still enjoys reading the current goings-on in the industry, I can offer that this closure comes as no surprise. Bear in mind that they (MVP) in their earlier manifestation were almost down for the count some time ago had it not been for two things: 1.) Mr. Chung, and 2.) A lot of suppliers carrying MVP through and forgiving a lot of debt. To the latter, I have to offer that a company executive who in one moment praises a vendor for helping them through a rough patch, but shortly after drops that same vendor over price in order to save $10 per unit is a person who’s lacking character or honor. (Bear in mind that these same people would be furious if one of their dealer customers would have dropped their RV line over the same reason.)
    In short, I feel for the production line people, office staff, service team, etc; the executive team……….well, no additional comment is necessary in this forum.

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