And that, in turn, has forced Fleetwood to close three factories, two service centers, and slash nearly 700 jobs.
A spokesperson for Fleetwood said its motor home and manufacturing business will continue to operate while it seeks buyers for those units.
As of October 26, 2008, Fleetwood had assets of $558.3 million and liabilities of $518 million.
The 59-year-old company said it believes it has enough cash to operate its businesses right now, but is in discussions with lenders for financing to supplement existing working capital.
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