Community Forums

ExcelRVGuy · 03-20-2015, 09:55 AM

Dear Excel Family Members,

Peterson Industries, Inc. has been a pillar of the RV industry and our community for nearly 50 years. Founded in 1966 by Vaughn & Leonard Peterson, the Excel brand has survived crisis upon crisis and always bounced back. Beginning with the fuel shortages in 1974, when people stood in line for hours just to get gas. Followed by the interest crisis of 1979, when interest rates jumped to a staggering 21%.

Next, we had a fire in 1983 that burned our main plant to the ground. Operating out of 5 locations around Smith Center, we produced our 1st unit within 30 days after the fire.

Then came 9/11 and the softening of the RV markets during the Gulf war.

And finally, the greatest recession to hit America since the 1930’s, caused by the sub-prime mortgage crisis that began in 2007 and lasted for a staggering 6 years for the RV industry. Coming into the 2007 recession, Peterson Industries was positioned quite well to sustain a moderate downturn. This however, was in no way “moderate”! The recession began with approximately 15 RV manufacturers building in the “high end” market, until finally there were only 2 left. DRV and Excel.

After a diligent search seeking a buyer or investor proved fruitless, I am so sorry to say that the last 7 years has left Peterson Industries undercapitalized and unable to continue.

Therefore, we regret to inform you, our valued family members that Peterson Industries is closing our doors, effective immediately.

On behalf of Vaughn, Duana, Bryan, Curtis, and all the employees, we want to take this opportunity to sincerely thank you for your loyalty and for giving us an opportunity to be a part of your lives.

Words cannot express our gratitude… We will miss you all so very much!

Old Car Nut · 03-20-2015, 10:08 AM

Very sad day indeed. Best wishes to all.

RickS · 03-20-2015, 10:09 AM

This is a sad day! I wish all of the owners and staff of PI a bright and hopeful future.

rockintom · 03-20-2015, 10:18 AM

So sad. We will miss you guys and hope only the best for all!!! rockin'

Rob17 · 03-20-2015, 10:35 AM

Our best wishes for all the nice folks at Peterson Industries. Thanks for a great trailer and for all the support.

**TonyDi** · 03-20-2015, 11:02 AM

It's always sad to here this type of story.

We all thank you for the quality of product you have afforded the RVing community.

Best wishes to all at Peterson Ind.

chief02 · 03-20-2015, 11:28 AM

Best to all!

Mr_D · 03-20-2015, 11:31 AM

Bad news! Sorry to see any company go out of business!!

EMD_Driver · 03-20-2015, 11:37 AM

This is very heartbreaking to read. We had another RV Mfr. locally, that also closed their doors. It was hard to see all the employees having to find new jobs. God bless you all..

TXiceman · 03-20-2015, 12:14 PM

And Excel was building the HitchHiker line for NuWa. Wonder what NuWa will do?

Ken

Squirrel · 03-20-2015, 12:15 PM

Our sincere appreciation goes out to everyone at Peterson Industries for all you have done for the Excel customers. We have enjoyed all of our Excels and we are still traveling in our last Excel with pride. We are sad to hear this news and send our prayers and best wishes to everyone at Peterson Industries.

Don and Mary, Pottsboro, TX

**JohnRR** · 03-20-2015, 12:20 PM

That's a hard story to read, I hope all works out for those effected.

JDT · 03-20-2015, 01:23 PM

What a sad day for all concerned, especially the hard working employees. We are on our third Excel and was looking forward to the fourth but I guess it is not meant to be. We have always been treated with dignity and respect by all we had contact with at Peterson Industries. To the employees, good luck and God bless you.