MIDDLEBURY, Ind. — Baring a miracle last-minute infusion of cash, Evergreen RV will shut its doors later this week, RV Daily Report has learned.
One source suggested that the company is seeking a buyout from another manufacturer.
According to a story published in the Elkhart Truth in January 2014, the company was founded in late 2008 by several former Pilgrim executives with the backing of two private investors.
People familiar with the situation told RV Daily Report today that one of the investors withdrew his continued financial support several months ago and the company has been looking for additional funding since then.
One dealer was told by a rep today the end could come as early as Friday, and another dealer in a different part of the country confirmed that he was told the same story.
RV Daily Report has reached out to several EverGreen RV executives for comment, but none responded by press time to even deny the rumors.
Don Emahiser took over as president of the company Aug. 21, and the company has seen tremendous success in recent years.
“The company has a great product and a great reputation among dealers. We were really shocked to hear the news and I hope they can pull something together to keep the doors open,” the dealer said.
In fact, EverGreen RV was the fastest-growing RV manufacturer in 2013, according to the Elkhart Truth, which cited figures from Statistical Surveys.
Another story published by the paper March 15 of this year noted that sales of EverGreen’s I-GO travel trailers grew by 104 percent among two-axle travel trailers in 2015. Market share also improved by 81 percent.
“It is a great company, but they weren’t making any money and the investor pulled the plug,” one source explained.