RV Manufacturer & Dealership
Service:Financial Advisor to Debtor
Company:$1.2BN Recreational Vehicle ("RV") Manufacturer and Dealership
A leading RV manufacturer and dealership had been experiencing the effects of the industry-wide reduction in wholesale units. The Company had very little liquidity and was unable to keep its manufacturing operations running.
Focus Management Group was engaged as Financial Advisor to the Debtor to provide advisory services during its Company’s Chapter 11 filing.
- As Financial Advisor, Focus Professionals prepared the necessary info required for filing, including data needed for first day motions.
- Developed an improved cash collateral budget
- Prepared SOFAs and schedules and conducted monthly operating reports
- All RV manufacturing assets were sold to Navistar, Inc. for $52 million, along with the sale of several motorhome resorts for $16 million.
- The secured lenders were paid in full, which was originally not expected.