# Canadian Rv Builder Glendale Files Bankruptcy



## Carey (Mar 6, 2012)

Very sad news. I thought the Titanium brand of 5ers were a very well made rv.

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Recreation vehicle manufacturer Glendale International Corp., Oakville, Ontario, reported today (Jan. 19) that it has voluntarily filed for bankruptcy under Canadian bankruptcy laws, according to a news release.

All corporate directors have resigned and the company expects Ernst & Young Inc. to be appointed as trustee of the estate of the corporation.

"The recent economic downturn, the rising Canadian dollar and higher gas prices have had a devastating effect on the recreational vehicle industry in North America," said Edward Hanna, chairman and CEO. "Over the past few months the corporation has undertaken an extensive internal review as well as engaged outside consultants to assist it in reviewing all available options and strategies which it could pursue to rebuild the recreational vehicle division, its primary business. However, given that there does not appear to be a significant rebound of the Canadian RV industry and the commercial structure business for the energy sector in the near term, the board of directors determined that a voluntary assignment in bankruptcy was in the best interests of the corporation's stakeholders."

The Canadian Press reported that Glendale has manufacturing plants in Strathroy, in southwestern Ontario, and Red Deer, in central Alberta.

According the most recent financial report issued by the company in October, the Glendale RV division had just under $9 million in sales for the first nine months of 2009 - down from about $16.6 million in the same period of 2008.

Sales at the Travelaire division were more resilient, falling to $6 million from $6.7 million in the first nine months of 2008.

In addition, Glendale is part owner of Firan Technology Group Corp., which makes printed circuit boards for the aerospace and defense industry.

Marketer of the Titanium and Travelaire RV brands among others, Glendale was founded in 1971 and at one point held a 40% share of the Canadian RV market. The company's parent, Firan Corp., was a factor in the U.S. market in the 1990s, operating two Elkhart, Ind.-area companies - Firan Motor Coach Inc. in Elkhart and Fireside RV Inc. in Bristol.

The Toronto Stock Exchange said it has begun an expedited review to delist the company's shares from the key stock market.


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## Nathan (Jan 2, 2007)

I'm acutally suprised how long they lasted. The rigs were nice, but NOT cheap!


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## swanny (Oct 31, 2007)

Wow, I just checked out a Titanium last week at a show. They are very nice and offer a lot. As Nathan said not cheap.


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## Collinsfam_WY (Nov 9, 2006)

Ugh - sorry to hear about another RV manufacturer is going under. I liked their cab-over designs.

-CC


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## Y-Guy (Jan 30, 2004)

Nathan said:


> I'm acutally suprised how long they lasted. The rigs were nice, but NOT cheap!


I think that is what hurt them, most other manufacturers slowed down the production of big rigs, some have even dropped them, but Glendale really didn't have any smaller or lighter rigs.

Sad to see them go down, they were a nice full timers rig.


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## Carey (Mar 6, 2012)

I'll say it was poor marketing. I have delivered way more rvs this year that are in the 70-80k retail range, than small cheap rv's. People are buying these for homes. The titanium brand is much harder to find then the other brands.

I think there was plenty of biz out there. They just didnt go get it.

Carey


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## nynethead (Sep 23, 2005)

I have been looking to purchase one for the past 2 years. Unfortunetly they do not market well to the US. Initially the had a great bunk house rig and then they stopped manufactureing it in favor of snowbirds. they then came out with a beautiful family toy hauler and priced it great. went to the show this year to buy one and they didn't bring one. when i called factory and then talked at the show they told me I needed to go to canada to see the rig. so we didn't buy. they are not pushing well into the US market.


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## johnpauk (Apr 29, 2012)

where can i get a manuel for my glendale rv, (2000 36 TKS Presidential Series)?


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