Any updates on Hymer/Roadtrek/Carado future? - Page 2

RossWilliams · 02-07-2019, 12:14 AM

The idea of this thread was to have actual updates of information rather than another round of speculation about what might be happening.

My understanding was that Hymer employees are all still working, after the initial layoff of new hires. But I am not sure where that was explicitly stated. Perhaps someone knows where there is a source for that.

I have also not seen any explicit connection between the inventory that is being done and the audit. It seems like a logical connection, but they could be only tangentially related. Is there source that explicitly made that connection?

On one of the Facebook pages someone who is waiting on warranty work said they were told by someone at Hymer that they hoped to have the inventory done by the end of the week, but "no guarantees".

mumkin · 02-07-2019, 06:00 AM

According to interviews with employees from the Cambridge (Hymer) plant on the local TV news (google it), the plant was closed and they were all told to leave. The old factory - the Roadtrek facility was not mentioned.

From the office employees, some of whom post on Facebook, they seem to be the only ones working. They made it pretty clear that they were mainly answering phones, tech help, and fielding questions. (informing people that nothing would happen until the audit and inventory are complete)

This is a manufacturing business, it is an impossibility that there would be an audit without an inventory... or an inventory with an audit... especially as they are investigating possible illegalities. The two are obviously very closely related.

RossWilliams · 02-07-2019, 02:25 PM

The only local coverage I could find was this CTV Report from last week. At that point the Cambridge workers were still in the plant, although production had stopped.

There are other reasons for an inventory than an audit. According to that news report, employees said they were told the units under construction in the Cambridge factory had been "sold". There is no information on what is happening at the Roadtrek facility but it seems obvious from other reports that the inventory includes Roadtrek. I haven't seen anything about production there.

RossWilliams · 02-09-2019, 07:12 PM

Hymer NA was sold prior to the puchase of EHG by Thor:

From Thor's FEC filing:

"Among other revisions to the Purchase Agreement, the Amendment (i) documented
the fact that EHG sold and transferred the North American operations to be excluded from the Transaction prior to the closing ..."

I assume that means the Hymer family bought Hymer NA from EHG to separate it from the sale.

Here are the Thor FEC Filings:

mumkin · 02-10-2019, 01:44 AM

Sounds like one of those $1 transfer of something from the right to the left hand. Since EHG belonged to the Hymer family...

Novadude59 · 02-10-2019, 02:19 PM

The fact that it’s not even confirmed who owns EHG’s North American division after the Thor acquisition illustrates just how poorly this is being handled by EHG. Of course I get that they are not yet able to speak about the results of the audit, but they really can’t issue a statement clarifying who is now the owner of the division? And maybe give some kind of update, even if it is limited?

Meanwhile, Roadtrek continues to make marketing posts on both Facebook and Instagram, as if everything is normal. Every time I see a new post, I think of Baghdad Bob. It’s getting that bizarre.

The strategy of saying nothing for almost 3 weeks now sure isn’t working, as evidenced by the continued speculation and rumors on this and other forums. And it’s EHG’s fault this is happening. In the absence of hard information, rumors and speculation fill the vacuum. The longer this goes on, the more damage they do to their company and brand.

Durp · 02-10-2019, 03:09 PM

I find it difficult to explain why landlords do not control the damage if they still intend to stay in business.

mumkin · 02-10-2019, 04:27 PM

I don't see any question on who owns EHGNA now... same ones that owned it before. The Hymer family...

Any possible change would be merely a name change to avoid clashes with the now Thor owned European names and models.

To me, the main worry is the extent of any damage related to possible criminal activity by employees. And how much money the Hymer family is willing to spend to get things running again to make it appeal to a buyer. (Thor?)

gregmchugh · 02-10-2019, 04:55 PM

I wouldn’t assume that there is wide spread concern about these issues based on the comments on this forum and Facebook. Not very large percentage of owners or potential buyers are on either of these platforms and on the large Facebook group not many are that concerned.

avanti · 02-10-2019, 04:58 PM

Quote:

Originally Posted by gregmchugh

I wouldn’t assume that there is wide spread concern about these issues based on the comments on this forum and Facebook. Not very large percentage of owners or potential buyers are on either of these platforms and on the large Facebook group not many are that concerned.

I agree that there is likely little visibility of all this by typical potential purchasers. The problem is the dealers, which is probably worse.

RossWilliams · 02-10-2019, 05:20 PM

I agree with Greg and Avanti. Most potential customers aren't paying attention and if you are looking at long term damage it would be to relationships with their dealer network. But if a couple months from now things settle out and they have established a credible sense of stability, this will just be a bump in the road.

Establishing credibility requires that what information they provide is accurate. Unlike some of the rumors here, the dealer service guy I talked to didn't expect the warranty and parts freeze to end this week, much less last week. They were apparently told a week or more. In short, they seem to be in the under promise over deliver mode. Which is a lot better than regular updates based on incomplete information.

avanti · 02-10-2019, 05:29 PM

Quote:

Originally Posted by RossWilliams

they seem to be in the under promise over deliver mode.

Huh?
What, exactly, has been "delivered" so far?

XLent · 02-10-2019, 05:54 PM

On 2/8/2019 I spoke with a fellow in RT parts concerning the delivery to my dealer of a lithium battery which failed on my RT. I was told that the parts department was shut down for inventory, with nothing coming or going out until the inventory is completed. I asked when that would be, and he surmised that it would be completed by. Tues. 2/12. He said that “parts” had been told by management; that once the the inventory was complete, that it would be business as usual. I will wait and see, because my crystal ball is not working.

mumkin · 02-10-2019, 05:56 PM

There was a report on FB from someone who works at the Cambridge factory. They are there, but not working... "playing cards and counting" he said. So apparently some are helping the auditors with the inventory. He didn't seem to think it ended on this past Friday either.

Glamper · 02-10-2019, 06:11 PM

Everyone talks about Hammill, but wasn't Howard Stratton COO the one that put family on payroll? I know buck stops with CEO but I see no comments about Stratton on any of these forums. Hammill has deleted his linkedin (when the news hit the fan) however Stratton profile still there https://www.linkedin.com/in/howard-stratton-57278425/ as well as Angela Stratton (daughter?) https://www.linkedin.com/in/angela-s...alSubdomain=ca

booster · 02-10-2019, 06:40 PM

Quote:

Originally Posted by Glamper

Everyone talks about Hammill, but wasn't Howard Stratton COO the one that put family on payroll? I know buck stops with CEO but I see no comments about Stratton on any of these forums. Hammill has deleted his linkedin (when the news hit the fan) however Stratton profile still there https://www.linkedin.com/in/howard-stratton-57278425/ as well as Angela Stratton (daughter?) https://www.linkedin.com/in/angela-s...alSubdomain=ca

I think that they all have gotten lumped together (3 people, it appears) because they all came from Bud Wheel and have worked together for a long, long time. They also all got "eliminated" together. Add to it that this kind of fraud, if it is true, would be very hard for one person, even a COO to do by themselves. The CFO would likely see the discrepancies in the financials, and the CEO should be aware of a bunch of missing vans or falsified VINs as there would have to be some oddness of sales numbers.

At this point, how it all shakes out for any of the individuals is wide open, I think. They could have all been in it together all the way to none or only one involved. Others could have just turned blind eye to the issues.

Nobody knows yet, and it could stay that way if no criminal charges or civil suits are filed, as the company is private.

RossWilliams · 02-12-2019, 06:39 PM

Report from facebook group posted today:

"I contacted Roadtrek this morning to get a status on the inventory. I was told last week it would be completed by Friday. I was told this morning that the inventory was NOT completed ..."

So much for the under promise over delivery theory or someone at Roadtrek didn't get the message.

wincrasher · 02-12-2019, 06:50 PM

Hmm....this seems to be taking a long time considering the size of these facilities. Most likely they are chasing down paperwork and computer files, not actually counting widgets on shelves.

booster · 02-12-2019, 07:00 PM

Quote:

Originally Posted by wincrasher

Hmm....this seems to be taking a long time considering the size of these facilities. Most likely they are chasing down paperwork and computer files, not actually counting widgets on shelves.

Yep, I think you are correct.

As with all inventories, the counting can be the quick and easy part. Reconciling the inventory to the books can be the hard part, especially if you don't know if you are looking at counting errors, fraud, or theft.

Glamper · 02-12-2019, 07:40 PM

Quote:

Originally Posted by THHChris

I’m a dealer for RoadTrek Vans. From a dealers point of view there is very little information currently. I can tell you that if the worst were to happen. Thor would likely pick them up regardless. Roadtrek is a great name to have.
I will answer what I can.

Thanks, I think everyone seems to be in the dark. I was thinking a Thor purchase might be a likely outcome, seriously doubt Hymer family will infuse cash to keep it going and with no additional layoffs (after the 100 or so mid Jan) the burn rate has to be over 1M per week for payroll and to keep lights on. Saw one FB post that a factory guy said they are sitting around playing cards (Feb 12). Today I tried to message an online rep which I have been doing past few weeks but just now Feb 13, 2:30pm Canda time "No operators are currently available. Please send us an email and we will get back to you as soon as possible." Kind of strange, have you heard if there are any company wide meetings coming up?

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