teddycp
illinois
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Joined: 03/01/2008
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I'm confused! If they are excceding their sales goals why are they going into Chap 11. Could it be that their goals were not high enough? Anyone can exceed a goal if it is low enough. In my business, when there was a downword trend in sales we jumped on the info rapidly and made necessary adjustments to avoid the kind of problems that are being described in these posts. Bottom line is that the fit survive and the unfit or mis-managed depend on chap to get out from under!
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tallyo
Fort Myers,Florida
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Joined: 06/12/2007
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teddycp wrote:I'm confused! If they are excceding their sales goals why are they going into Chap 11. Could it be that their goals were not high enough? Anyone can exceed a goal if it is low enough. In my business, when there was a downword trend in sales we jumped on the info rapidly and made necessary adjustments to avoid the kind of problems that are being described in these posts. Bottom line is that the fit survive and the unfit or mis-managed depend on chap to get out from under!
They filed Chapter 11 several months ago.....and since that time they have established sales goals to aid in recovery.
In the RV industry, like the auto industry, the credit markets dried up very fast. No warnings. By credit, I mean the availability for buyers to obtain financing, which is a very big part of RV and Auto industry survival. People today are trying to buy RV's but cannot readily get the amounts /terms they need, because the banks are being very conservative right now.
You may be able, in your business, to make adjustments rapidly but the bigger the business the more time it takes to make turn arounds. In the case of Lazy Days they are the biggest RV in the country. They sell more in a month than most do in a year.
Easier to turn a 30 foot boat around than an aircraft carrier.
There are a lot of businesses that 2 years ago were very "fit" but because of this recession they couldn't survive......
Tallyo
2007 Winnebago Adventurer
W-24, 6 spd Allison
Saturn VUE w/ Brake Buddy Vantage
Drinks-6, Eats-4, Sleeps-2
Semper Fi
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JJBIRISH
Butler, PA, USA
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Joined: 10/06/2002
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Duck wrote:If you read the whole story this is what is called a prepackaged chapter 11.
Don
I assume this allows them to give unequal weight to creditors, and allows them to decide who to throw under the bus so they can survive…
prepackaged sounds so much neater and cleaner...
Love my mass produced, entry level, built by Lazy American Workers, Hornet
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Chris Bryant
DeLand, Florida, USA
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Joined: 03/26/2003
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Question- how do you make a million dollars in the RV industry?
Answer- borrow 2 million.
-- Chris Bryant
My RV Service Blog
The RV.net Blog
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