Colorado Teardrop Trailers files for Bankruptcy Protection

[bdosborn]

RV sales have collapsed by 50% this year so I wouldn't be surprised if we don't see more small RV companies failing.
Colorado Teardrop Trailers files for Bankruptcy Protection

Bruce

[tony.latham]

The company listed liabilities of over $804,000 and assets of $35,080.

How did they get that far in debt with a teardrop company?

Tony

[bdosborn]

Yeah, I wondered about that too. They took out loans for all their equipment? They took the money and ran? Stopped paying their rent?
Hard to tell.
Bruce

[saywhatthat]

There a moby1 take a lot of dep . Can't be charged with no crime. hard to prove they plan to keep the money . will they be like Moby1 have the kids open same place new name i got ban for warning about moby 1 .The last year been posting about colorado
DO you remember there bs franchise had people want to burn me at the stake for saying anything .


Not posting about Coorado here. Some manufacture see not a thing out of bounds .Not paying for repairs using #2 plywood saying it's the buyers fa
Had trailer came for repairs manufacture used rotted ply .manufacturer there only email. I will be going to our corporate attorney Monday. Be ready
They Seem to take a lot of dep. big delays the owner is well know a BBB
Sadly there no list of manufacture that won't pay. Just a warning if you are having a hard time get ma to cover cost. Get pictures lots . move to storage lot so repair shop does not get your trailer for storage cost

[Cathy P.]

I think most of them must be having issues. I know "parts" caused issues for some time with ALL of the manufacturers. The other day I was looking for "Escapade" and then "Retro Ride" and both have disappeared from the web. I am always concerned about advancing payment, and this happening with the manufacturer.

Often, the better the quality, the more likely they are to disappear, as most people look at the price tag and not the quality/longevity. I have watched that for probably 3 decades with the RV industry.

[Ottsville]

The company listed liabilities of over $804,000 and assets of $35,080.

How did they get that far in debt with a teardrop company?

Tony

Interesting numbers from the article:

The bankruptcy filing said Colorado Teardrops generated $2,363,984 in 2023 gross revenue before the filing. The total was a large drop from the $6,879,720 listed in 2022 gross revenue and the $3,813,609 in 2021 gross revenue.

If you take $35k as an average price, that's ~200 units sold in 2022.

$800k in debt isnt highly unreasonable given even the $2.3 mil sales number. Probably real estate given the article said they had a 20,000 sqft facility? But yeah, $800k in debt for manufacturing teardrops shows someone didn't have very realistic visions.

[Squigie]

Everyone wants a teardrop, but no one wants to pay for one.
Except the people buying the $4k cracker boxes that will crack up and mildew themselves to death immediately.

Sounds like they hedged their bets when the market was artificially inflated and it came back to bite them.

[Tom&Shelly]

Sure wish I'd bought a few hundred sheets of Baltic birch around Covid. Could've made quite a profit selling to teardrop builders.

Tom

[saywhatthat]

They have started new now they're calling themselves Colorado off-road teardrops .Did the same as moby1 I guess not a bad deal .you can take a couple hundred thousand dollars of deposit buy a bunch of materials and do a bankruptcy. THERE new add

2023 Off Road Hybrid Teardrop
These campers have been designed for the outdoor enthusiast, the off-grid camper or the small family that still likes to create great adventures.
My wife and I recently started a company called Colorado Off-Road Expeditions. We worked closely with the manufacturer to help design a teardrop style camper that can do it all.
We currently have one of these available, Starting January 14 call or text to book a showing.

[Squigie]

Do you have a link?

[saywhatthat]

to me there's no one lower than someone will take deposits from people then file bankruptcy and you want me to link to post their advertisement what do you have to them