Liquidity Crisis Drives RV Maker Fleetwood To Ch. 11

Law360, New York (March 10, 2009, 12:00 AM EDT) -- Fleetwood Enterprises Inc., which makes and sells recreational vehicles and prefabricated housing units, has filed for Chapter 11 protection, citing a liquidity crisis sparked by eight straight years of operating losses and general decline in Fleetwood's product markets.

In an affidavit filed with the U.S. Bankruptcy Court for the Central District of California, Andrew M. Griffiths, senior vice president, CFO and treasurer for Fleetwood, cited continued concerns over general weakness in the housing and RV markets, falling real estate prices and declining lending, rising fuel and...
To view the full article, register now.