Friday

Fleetwood in Trouble

Fleetwood’s stock value is down to ten cents. That’s less than a gumball costs at Target and a scary number.

On Dec. 12, 2008 Fleetwood filed a 145 page “Form 424B3” which is a “Form of Prospectus” with the SEC and you can read it in full on the Fleetwood website here if you want: http://ir.fleetwood.com/phoenix.zhtml?c=63938&p=irol-sec

On what is numbered as page “iv” but is actually the seventh page in the document, among some Q&A’s about the offer they are making to exchange stock for debt that they owe to be paid on Dec. 15, at the bottom of the page appears this sentence: “If we can not satisfy such repurchase obligations, we would be in default and may seek protection from our creditors in a bankruptcy proceeding.”

Those are ominous words.

If you are thinking of buying a Fleetwood RV, you might want to think again.

Burdge Law Office
Helping Rv'ers Get Rid of Lemon Rv's Since 1978.