Westfalia - bankrupt

[westyventures]

Forwarded by a friend, from the Westfalia Sprinter forums:

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Westfalia camper manufacturer is bankrupt

Rheda-Wiedenbrück (AP) - The producer Westfalia camper is broke. The company presented on Wednesday insolvency. Reason is the 2009 dramatic deterioration in market development, told the Westfalia Van Conversion on Wednesday in Rheda-Wiedenbrück.

"We therefore have to assume that the slump in our motorhome last year by a net 40 percent last longer," said manager Sven Dübbers. The aim was now a comprehensive new start.

Especially in the first half were the orders on a monthly basis slumped viewed by up to 70 percent, said Dübbers. The slight recovery after the summer holidays 2009 meant the company had no sustainable solution to its economic problems. In addition, draw off again this year is no fundamental improvement. The survival in the current structure is no longer guaranteed, "said Dübbers.
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In the insolvency proceedings should be prepared now an insolvency plan that can ensure long-term vehicle production. The option of self-administration is sought. "We expect that today's step opens up the opportunity to be able to continue the company after the completion of a management plan insolvency proceedings in a new constellation, said Dübbers.

Currently, the traditional company has approximately 170 employees. The turnover in 2008 was around 40 million euros. The company belongs to the Munich-based industrial holding Aurelius AG.

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http://forum.womoverlag.de/viewtopic.php?f=12&t=13094&start=0&st=0&sk=t&sd=a

[tencentlife]

So, the German equivalent of Chapter 11. They'll be back, only smaller.
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Shop for unique Vanagon accessories at the Vanistan shop:
https://intrepidoverland.com/vanistan/

Please don't PM here, I will not reply.

Experience is kryptonite to doctrine.

[deprivation]

[240Gordy]

I think in Germany it is much more embarrassing and shameful to have to resort to bankruptcy proceedings, much like it is in Japan.
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Tencentlife said,
"So, now that you know what you're doing, go to town."
2010 GOLF TRENDLINE 2.5
1985 GL now with more! a 2.1L
H&R SPORT(RED) Springs FRONT , SLAM SPECIALTIES RE6 AIRBAGS REAR

[taigagreen]

Very sad.
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88 Westfalia Club Joker syncro AAZ i/c
99 Transporter syncro 2.5 TDi

[BlackDogVan]

Samba group purchase?

VP titles for everyone!! Where's my bonus cheque...

[Jedi]

I have felt a disturbance in the force.... And it hurt
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1961 Westfalia SO23 Mango Green/Seagull grey
1961 Westfalia SO34 T/BW
1961 Westfalia SO34 SWR
1964 Westfalia SO33 pearl white
1965 Westfalia SO42 Velvet green
1986 Syncro Wolfram grey with black int GL
1986 Syncro Doka
1987 Syncro Sevana beige Adventurewagen
1987 syncro Sevana beige GL
1973 Pumpkin orange Thing
2 1963 Rag top bug's
1965 Manx
1970 Single cab
1971 combi
1990 Vanagon GL
2007 Audi A4 3.2L quattro

[devesvws]

am i missing something here i thought chrysler bought them last year or in 08.
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THE FEW THE PROUD THE ORIGINAL VW WATERBOXER -> looking for a original 91 vanagon owners manual with 1991 on the cover http://www.youtube.com/watch?v=pmuiG2tUsP4&feature=share https://picasaweb.google.com/101290228103300323836/BostonBobFlywheelVideo#5543000332201103922

[HAPIKAMPER]

I just finished George Carlins book "Last Words" I'm inclined to believe him when he says that the planet isn't going anywhere, in fact we humans are the ones who will be going...let's go camping before it's to late

[otiswesty]

In 1999, Daimler Benz purchased 50% of Westfalia. In 2001, the new Daimler-Chrysler purchased the remaining 50% for a 100% share of ownership. Since they overpaid for a sound company in a leveraged acquisition, they didn't have enough income to pay the debt and thus almost destroyed a great German automotive icon. The same thing almost happened to MB itself, Chrysler was a poison pill that almost took the whole house down. They were lucky to sell it at a huge loss to Cerebrus.
Basically, they also gave away Westfalia about the same time, this time to Aurelius which is like a German verson of Cerebrus, an investor holdings group. That's why the museum collection was sold off last year, and now bankruptcy. I guess the whole issue of undersecured leveraged purchases is not just limited to the housing market in Happy Valley...

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1978 Sage Green P22 Westfalia
1989 T3 Syncro Single cab

Just a regular guy

[K58]

I thought they went out of business in the 90's