In just a few days, hundreds of people will descend on the former headquarters of Erwin Hymer Group North America in Cambridge, Ontario, and try to score a deal.
The Record reported that they’ll be bidding on tens of millions of dollars worth of camping trailers, RV parts, tools and office supplies during a massive four-day auction that starts July 16.
Hundreds more will log on from around the world to bid online.
Many will walk away likely having paid pennies on the dollar for items as part of the receivership process designed to wring as much value as it can from the insolvent business to pay at least some of the hundreds of millions of dollars it owed to creditors.
But how did it come to this?
Just three years ago, German-based Erwin Hymer Group bought the company — then called Roadtrek — from U.S.-based capital investment firm Industrial Opportunity Partners and rebranded it as Erwin Hymer Group North America with a plan to conquer this continent’s camper van market.
It was the second time in five years that Roadtrek had been bought by a foreign investor, and management soon made it clear they planned to drastically ramp up production.
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