One area of the senior living market that continues to deteriorate is the recreational-vehicle business. Fleetwood Enterprises earlier this week said that it would file for Chapter 11 bankruptcty protection for its U.S. operations and will close its travel trailer business. That division accounted for losses of $65.3 million in 2007 and $16.8 million in 2008 and affects three manufacturing facilities and two service facilities employing approximately 675 people. The company is also laying off an additional 65 corporate associates. Fleetwood plans to keep its motor home and manufactured housing businesses operating while the company seeks buyers for those business units. Between volatile gas prices and the recreational vehicle industry in steep decline, it looks like the dream of cruising around the world in retirement is becoming a relic of the past.
For more on Fleetwood Enterprises bankruptcy filing, click here.