Tuesday, April 07, 2009

 

SOME PRODUCTION RESUMES AT COUNTRY COACH

Greg Gerber of RVENEWS posted on April 06, 2009 13:15
JUNCTION CITY, Ore. -- Workers returned to the Country Coach factory Monday to do something they hadn’t done for more than four months: build motor homes.

More than 60 employees were back at work, a number expected to reach 90 by the end of the week, company spokesman Matt Howard said.

“It feels good,” employee Mark Werder said as he attached a hose to a windshield wiper assembly. “It feels like a new beginning.”

The privately held company was able to re-open after a bankruptcy judge granted preliminary approval last week to a new financing deal between Country and Wells Fargo. Judge Albert Radcliffe authorized Country Coach to spend up to $2 million through the week of April 13, when a final hearing on the deal is scheduled. Wells Fargo released funds to the company on Thursday.

Country Coach is in Chapter 11 bankruptcy, a legal process intended to give financially troubled companies breathing room from creditors while they re-organize their finances.

SOURCE: Register Guard



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