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Casper, Wyo.-based Teton Homes is contemplating a “substantial restructuring” but no layoffs are expected, according to the investment firm that owns the luxury travel-trailer builder.
“I don’t expect this to translate into anything but a healthy, more viable business, and don’t contemplate layoffs,” said Charlie Larkin of Massachusetts-based Webster Capital Investment Co.
As reported by the Jackson Hole Star Tribune, Larkin said recent rumors that the 41-year-old Casper business is shutting its doors are not true.
He said tough economic times sometimes generate speculation about the worst possible outcome, but in this case the speculation is inaccurate.
“We’ve heard the same ugly rumors,” he said.
Teton Homes is not the only RV builder in America facing tough times.
Many plants are restructuring, slowing down or closing all together, according to Kevin Broom, spokesman for the Recreation Vehicle Industry Association (RVIA).
Broom said the chief factor is the national credit crunch, which is making it harder for people who want to buy RVs to qualify for credit.
“The biggest thing is the banks,” Broom said. “There are plenty of people who would like to buy RVs, but because of the mortgage meltdown, lending standards have tightened across the board.”
Founded in the late 1960s by Robert Ingram, Teton Homes specializes in upper-end fifth-wheel trailers, some of which have been used on set by Hollywood stars.
In 2005, Ingram sold a controlling share of the company to Boston-based Webster Capital.
Teton Homes employs about 150 workers, according to statements a company official made to the Casper Area Economic Development Alliance this summer.