Foretravel Northwest, the luxury diesel-pusher dealership that moved from Coeur d’Alene, Idaho, to a new $2.5 million complex at Liberty Lake, Wash., three years ago, could have a new owner soon, says General Manager Terry Solinsky, the Spokane (Wash.) Journal reports.
An undisclosed prospective buyer is negotiating to acquire the dealership’s assets, and a sale is pending, Solinsky says.
“We’re in the process of developing a proposal, and I would estimate we’re about 90% there,” he said.
Foretravel Northwest is owned by Foretravel Inc., a Nacogdoches, Texas highline diesel-pusher manufacturer. Foretravel announced in April it planned to divest its six factory-owned stores and develop a 12- to 15-member independent dealer network as part of a new strategy aimed at increasing its national exposure.
Until recently, Foretravel also operated dealerships at Kodak, Tenn., San Antonio, Fla., Denton and Nacogdoches, Texas, where its factory is located. Last week, it closed its underperforming Escondido, Calif.; dealership, and it had no immediate plans to replace it, Solinsky said. Buyers are being sought for the other dealerships, he said.
Solinsky says he personally has been devoting a lot of time to finding, among the dealership’s mostly wealthy customers, potential investors who might have an interest in buying the Liberty Lake dealership.
“I’m driven to do this to maintain our staff, the quality of our staff,” he said.
Even if the current negotiations were to fail, though, he said, he expected another buyer would be found. Regarding the possibility Foretravel might choose to shut down the dealership if negotiations fail, he said,
“That hasn’t been verbalized, but I don’t really see that happening.”
Foretravel coaches retail mostly in the $450,000-to-$550,000 range and are up to 42 feet in length. The dealership in Washington serves a market area that includes 14 states and part of Canada. Along with the Foretravel brand, the company sells new Winnebago Itasca and Born Free motorhomes and used RVs. Its work force ranges seasonally from around 18 to 24 employees, Solinsky said.
The Liberty Lake facility, which opened in June 2000, is located on a five-acre site, includes a 17,000-square-foot sales, parts, and service building, plus a large paved and landscaped area for displaying RVs.
Solinsky said the dealership has met its expectations and goals there in terms of revenue, “although there has been a stutter that really stems from the 9/11 issue” and the stock market decline.