The assets of recreational vehicle manufacturer Glendale International and its Red Deer subsidiary Travelaire Canada will be sold off in April as part of a bankruptcy process that saw the company shutter its two plants, putting 200 people out of work.
The firm selected to appraise Glendale’s assets, Century Services, said Monday that the bankrupt company’s unsold inventory and manufacturing plants in Red Deer and Strathroy, Ont., will be sold at auction. Glendale began manufacturing in 1950, and at one time sold more RVs in Canada than any other manufacturer.
Travelaire had operated in Red Deer since 1966, manufacturing RVs and more recently products like portable office trailers. It was purchased by Glendale’s predecessor, Firan Corp., in 1988.According to Glendale’s 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 totalled $6 million, down from $6.7 million in the first nine months of 2008.
The company said at the time that it was debt-free and had $2.4 million in cash as of Aug. 28.
Although Travelaire’s employee count had reached about 275, its payroll was a fraction of that size when operations at the Red Deer plant ceased in January.