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Ameri-Camp - RV builder

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2008-10-31

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stories: journalgazette.net

Though not a traditional "home builder", we're making an exception for the Syracuse-based RV maker Ameri-Camp. A "tiny" implosion by way of building RVs rather than brick and mortar homes, the Journal Gazatte reports that Ameri-Camp has "closed its doors":

Ameri-Camp, a maker of towable RVs in Syracuse, has closed its doors, a trade magazine reported this week.

No one answered the phones at Ameri-Camp on Thursday.

Trade magazine RVBusiness reported on Monday that it obtained an Oct. 20 memo from Ameri-Camp President Michael Bajailla. It said the company had closed its doors because it didn’t have the cash to pay unsecured creditors.

Ameri-Camp apparently had a significant number of employees, having announced plans in 2006 to hire some 250 more employees as part of a $7.1 million expansion.

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Important: This company is on our list of builder operations that have "imploded" (see also ailing lenders). This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid declines in enterprise value; or abnormal "bail-out" by corporate parents or peers in order to continue to operate. The builders may be residential or commercial.