Teton Foreclosure

[bstark]

I just received my info packet from Teton Homes that was mailed out the 7th of Sept showing an absolute low price of $68,800 for the 32 foot Prestige to the hefty $190,000 for the Royal Reliance 40 footer. These prices are before options of course. A fully optioned Royal could easily tip the scales at $230K MSRP.

That would have been some dream lottery-win trailer for me.

[bstark]

Teton enjoys a special niche in the industry in that they have the oil-patch skid housing to keep them liquid.

If however they are still closing completely, then this scenario is playing out exactly the same as every other closure of an RV company has before with the script being dictated by fending off potential creditors and asset seizures by using buzz words such as "temporary" and "re-structuring" to hopefully delay any leagal stuff happening for as long as possible while the shareholders see how much they can run with.

[LindaH]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by sfischer:
Sorry for a couple of typos in the above post. I can't seem to locate the "edit" button to correct. </div></BLOCKQUOTE>
Look in the lower right-hand corner of your post for the icon of a folder with a pencil eraser...that's your edit button. In fact, if you hover your mouse over the icon, you'll see the words "edit or delete message."

[Ann n Gene]

According to reports from dealers at the Hersey RV show (Teton dealer). There will be NO warranty and dealers and customers are on their own with all repairs to be cash on delivery. That being said, many of the components are coverd by warranty from their manufactures. So while structure adjustments and problems with leaks etc are on you, most other things can be covered by dealing directly with manufactures. just my 2 cents. Gene

[bstark]

Here's my feelings on buying a new one: why not?
If the savings are subtantial enough, you can eat a lot of repairs and still be money ahead. Most of the things that go wrong or are wrong already upon delivery are easily repaired by owners themselves which is what most of us have done with our previous trailers anyway to avoid that demeening service counter experience with the guys that are supposed to know how to repair them actually making a hash of it anyway.

[HB Phil]

My experience with Excel after sale service and support is the exact opposite of demeaning. To the contrary Excel's solid service inspires confidence in their rigs in general. For sure when my rig needs Excel service, it is in very good hands.

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by bstark:
...most of us have done with our previous trailers anyway to avoid that demeening service counter experience with the guys that are supposed to know how to repair them actually making a hash of it anyway. </div></BLOCKQUOTE>

[sfischer]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Look in the lower right-hand corner of your post for the icon of a folder with a pencil eraser...that's your edit button..... ." </div></BLOCKQUOTE>

Thanks Linda. I have edited before, but for some reason the "edit" button wasn't displaying yesterday when I posted. Today, it's there again, so I edited the original post and removed the second.

[Hitchhiker]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by sfischer:
I have edited before, but for some reason the "edit" button wasn't displaying yesterday when I posted. Today, it's there again, so I edited the original post and removed the second. </div></BLOCKQUOTE>

The edit button will only show up when logged on, if viewing as a 'Guest', it's unavailable.

Regards,
Administrator

[tnance]

From the information I have gotten it does appear that Teton is closed. We are currently on the road making our way to South Dakota for this years Teton Club national rally at the end of this month. I hope to at that time to find out what the real story is. At this time I have lots of questions.


Why would a company close its doors when it has pre-paid deposits on orders for 35 new rigs?

Why would a company close its doors when it had orders for 65 Oil Field housing units?

This work represents nearly a years worth of work. Why would a company close its doors under these circumstances?

Last week the waiting period for a new Teton was at least six months. Friends of mine that wanted custom work done on their Teton were told by the Teton factory that they would have to wait until next year to get that work done.

Something sounds fishy to me.

I don't have any proof but this is what I suspect.

A Banking Investment company took over Teton a couple of years ago. They are intelligent enough to see that with the higher price of oil that the days for RVing as we know it is coming to an end.
Couple this with the high price of a new Teton, ($100,000.00 plus), more stringent credit rules and we have far less buyers.
I think the Invest Banking group sees the writing on the wall and decides now is the best time to jump ship.
The Investment Banking group closes the plant now and takes the money and runs. They can use the excuse that many other RV manufacturers have closed and they are simply doing the same.

[LindaH]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Hitchhiker:
The edit button will only show up when logged on, if viewing as a 'Guest', it's unavailable.
</div></BLOCKQUOTE>
I know you can read the posts without logging in, but I would think that you'd have to be logged in to post...not true?

[Route 66]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">but I would think that you'd have to be logged in to post...not true? </div></BLOCKQUOTE>

You are correct.

[bstark]

TNance: That is somewhat the same scenario as Travel Supreme, while accepting deposits and orders from dealers for new rigs on the one hand they were busily moving unshipped and owned 'waiting for service' trailers into different parts of their lot in anticipation of putting a lock on the gates.

Bean Counters have no souls. Majority shareholders rule!

This is not good news for any of us who may wish to purchase a new unit in a couple of years as the competition is the only thing guaranteeing even a modicum of quality in construction among similarily priced units.

[motojavaphil]

I am not certain I understand why the investors would sell Teton if it is still turning a profit. Things change and Teton could alter its formula to adapt to a changing market. Getting out while it is good makes no sense unless you wanted to invest in another enterprise. Obviously selling a company making High End 5r's would not be the easiest thing to do but if the books were "black" there should be someone to invest. They would not lose as much money or maybe even turn a profit. I don't get it? Please enlighten me.

[Endeavor2BnC]

I would have assumed that it's easier to sell an operating company vs one that's shutdown. We may never know the truth about the real reason for closing their doors. No company will ever tell you what's on their minds prior to it actually happening. Sure does make for bad PR.