Fleetwood Enterprises, Inc.

 As of March 10, 2009, Fleetwood Enterprises Inc., the maker of motor homes and camping vans, filed for bankruptcy and may sell itself after losing more than 98 percent of its market value last year as U.S. shipments fell to a 30-year low.

According to Bloomberg, the 59-year-old company, which had a loss every year since 2001, has assets of $558.3 million and debt of $518 million, according to Chapter 11 papers filed today in U.S. Bankruptcy Court in Riverside, California, where it is based.

Fleetwood’s debt includes a secured credit facility of $135 million, 14 percent secured notes of $81.4 million and 6 percent notes of $151.3 million, court papers show. The company has 289 lawsuits pending in federal and state courts and in two Canadian provinces over warranties and personal injuries.

Sources and Related Articles:

• Fleetwood Enterprises, RN Maker, Seeks Bankruptcy
• Fleetwood files for bankruptcy; to close a unit

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