Monaco Coach Corporation
Encyclopedia
Monaco Coach Corporation was an American
corporation
which primarily manufactured recreational vehicle
s and RV chassis. The company was headquartered in Coburg, Oregon
, and maintained significant manufacturing operations in various locations in Indiana
.
On March 4, 1996, the Monaco Coach Corporation
acquired from Harley-Davidson
, Inc. certain assets of Holiday Rambler
(the "Holiday Acquisition") in exchange for $21.5 million in cash, 65,217 shares of Redeemable Preferred Stock (which was subsequently converted into 230,767 shares of Common Stock), and the assumption of most of the liabilities of Holiday Rambler. Concurrently, the Company acquired ten Holiday World Dealerships for $13.0 million, including a $12.0 million subordinated.
In 2005, the company had sales of approximately US$1.2 billion, and employed nearly 5,400 people.
On March 5, 2009 the company filed for Chapter 11 bankrutpcy. On April 24, 2009 in U.S. Bankruptcy Court in Delaware, an attorney for Monaco said the company had signed an asset purchase agreement with Workhorse International Holding Co., a Navistar International
subsidiary. Monaco's CEO was Kay Toolson. On June 23, 2009, Judge Kevin Carey agreed to the company’s request to convert its Chapter 11 bankruptcy filing to a Chapter 7 case so it could liquidate its remaining assets, seven pieces of real estate in Oregon, Indiana and Florida. The order converting the case to Chapter 7 was effective June 30. Monaco Coach Corporation sold its factories, inventory, brands and intellectual property to Navistar International
Corp. earlier in June for $47 million. The RV resort properties in California, Nevada, Florida and Michigan were sold to various other buyers. Once the remaining assets are liquidated under Chapter 7, “the entity ceases to exist,” and effectively spells the end of Monaco Coach Corporation, said Andrea Coles-Bjerre, an assistant law professor at the University of Oregon and a former bankruptcy lawyer in New York.
Monaco RV LLC is now a wholly owned subsidiary of Navistar International
Corp.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
corporation
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...
which primarily manufactured recreational vehicle
Recreational vehicle
Recreational vehicle or RV is, in North America, the usual term for a Motor vehicle or trailer equipped with living space and amenities found in a home.-Features:...
s and RV chassis. The company was headquartered in Coburg, Oregon
Coburg, Oregon
Coburg is a city in Lane County, Oregon, United States, north of Eugene. The city's population as of the 2010 census was 1,035.- History :...
, and maintained significant manufacturing operations in various locations in Indiana
Indiana
Indiana is a US state, admitted to the United States as the 19th on December 11, 1816. It is located in the Midwestern United States and Great Lakes Region. With 6,483,802 residents, the state is ranked 15th in population and 16th in population density. Indiana is ranked 38th in land area and is...
.
History
Monaco was incorporated in 1968 as the Caribou Manufacturing Company. They began building pickup campers. The most popular line was named "Monaco." In 1977 the name was changed to Monaco Coach Corporation. It acquired the Roadmaster Chassis Division of Chrysler Corporation in 1984 and the Holiday Rambler Division of Harley-Davidson in 1996. In 1987 Kay Toolson was appointed President. Monaco manufactured seven brands of motorhomes and RVs, including Monaco, Beaver, Safari, McKenzie, Holiday Rambler, R-Vision, and Roadmaster Chassis. In 1994 Monaco President Kay Toolson announced they would move their Junction City operations to the Coburg Industrial Park in Eugene, Oregon.On March 4, 1996, the Monaco Coach Corporation
Monaco Coach Corporation
Monaco Coach Corporation was an American corporation which primarily manufactured recreational vehicles and RV chassis. The company was headquartered in Coburg, Oregon, and maintained significant manufacturing operations in various locations in Indiana....
acquired from Harley-Davidson
Harley-Davidson
Harley-Davidson , often abbreviated H-D or Harley, is an American motorcycle manufacturer. Founded in Milwaukee, Wisconsin, during the first decade of the 20th century, it was one of two major American motorcycle manufacturers to survive the Great Depression...
, Inc. certain assets of Holiday Rambler
Holiday Rambler
Holiday Rambler Corporation was an American corporation which primarily manufactured recreational vehicles. It was founded in 1953. In 1961, Holiday Rambler’s introduction of aluminum body framing ushered in a new era of lighter, stronger and more durable recreational vehicles . This aluminum...
(the "Holiday Acquisition") in exchange for $21.5 million in cash, 65,217 shares of Redeemable Preferred Stock (which was subsequently converted into 230,767 shares of Common Stock), and the assumption of most of the liabilities of Holiday Rambler. Concurrently, the Company acquired ten Holiday World Dealerships for $13.0 million, including a $12.0 million subordinated.
In 2005, the company had sales of approximately US$1.2 billion, and employed nearly 5,400 people.
On March 5, 2009 the company filed for Chapter 11 bankrutpcy. On April 24, 2009 in U.S. Bankruptcy Court in Delaware, an attorney for Monaco said the company had signed an asset purchase agreement with Workhorse International Holding Co., a Navistar International
Navistar International
Navistar International Corporation is a United States-based holding company that owns the manufacturer of International brand commercial trucks, MaxxForce brand diesel engines, IC Bus school and commercial buses, Workhorse brand chassis for motor homes and step vans, and is a private label...
subsidiary. Monaco's CEO was Kay Toolson. On June 23, 2009, Judge Kevin Carey agreed to the company’s request to convert its Chapter 11 bankruptcy filing to a Chapter 7 case so it could liquidate its remaining assets, seven pieces of real estate in Oregon, Indiana and Florida. The order converting the case to Chapter 7 was effective June 30. Monaco Coach Corporation sold its factories, inventory, brands and intellectual property to Navistar International
Navistar International
Navistar International Corporation is a United States-based holding company that owns the manufacturer of International brand commercial trucks, MaxxForce brand diesel engines, IC Bus school and commercial buses, Workhorse brand chassis for motor homes and step vans, and is a private label...
Corp. earlier in June for $47 million. The RV resort properties in California, Nevada, Florida and Michigan were sold to various other buyers. Once the remaining assets are liquidated under Chapter 7, “the entity ceases to exist,” and effectively spells the end of Monaco Coach Corporation, said Andrea Coles-Bjerre, an assistant law professor at the University of Oregon and a former bankruptcy lawyer in New York.
Monaco RV LLC is now a wholly owned subsidiary of Navistar International
Navistar International
Navistar International Corporation is a United States-based holding company that owns the manufacturer of International brand commercial trucks, MaxxForce brand diesel engines, IC Bus school and commercial buses, Workhorse brand chassis for motor homes and step vans, and is a private label...
Corp.