Fleetwood Enterprises files for bankruptcy

RIVERSIDE, Calif. The Riverside-based company has been hit by a severe slump in sales.

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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