Thursday, February 26, 2009
REXHALL FILES FOR BANKRUPTCY
from Greg Gerber of RVIndustryNews
LANCASTER, Calif. -- Motorhome manufacturer Rexhall Industries filed for Chapter 11 bankruptcy protection yesterday, RV Industry News has learned.
The company claimed total assets of $5.1 million and total debts of $4.9 million. Chapter 11 allows businesses to reorganize by restructuring debt so they can get out from under burdensome leases and contracts. Usually, businesses that file Chapter 11 are allowed to continue to operate, although it does so under the supervision of the Bankruptcy Court and its appointees.
Attorney Steven Fox has been retained to represent the company. He can be reached at 818-774-3545.
During a special meeting of Rexhall shareholders Feb. 4, it was decided that Chapter 11 was the most beneficial financial and legal alternative for the company, according to documents filed at the U.S. Bankruptcy Court for Central California.
LANCASTER, Calif. -- Motorhome manufacturer Rexhall Industries filed for Chapter 11 bankruptcy protection yesterday, RV Industry News has learned.
The company claimed total assets of $5.1 million and total debts of $4.9 million. Chapter 11 allows businesses to reorganize by restructuring debt so they can get out from under burdensome leases and contracts. Usually, businesses that file Chapter 11 are allowed to continue to operate, although it does so under the supervision of the Bankruptcy Court and its appointees.
Attorney Steven Fox has been retained to represent the company. He can be reached at 818-774-3545.
During a special meeting of Rexhall shareholders Feb. 4, it was decided that Chapter 11 was the most beneficial financial and legal alternative for the company, according to documents filed at the U.S. Bankruptcy Court for Central California.
